Hive-Naija Weekend Engagement #31 - "Naira vs Dollar"

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"The greatness of a community is most accurately measured by the compassionate actions of its members."
•Coretta Scott King


Hello Everyone, it's been a month since our last weekend engagement. I would like to apologize for not being available to make this work. Next time, @starstrings01 would continue this initiative if I'm absent...

It's Friday!!

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Last time, we discussed about "Money"

Thank you all for sharing your lovely opinions.


Some months ago, I thought, I shared and I asked "Why don't we Chat on hive every Weekend?"

And you all said...

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Well, we won't be the first as there are some weekend engagement trends already on Hive! But this would be THE NIGERIAN VERSION!


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So Shall We?

I will drop a topic every Friday(Today's topic is below), share your thoughts on the matter, reply to someone else opinion, and interrogate the opinion if you like. Keep the discussion on. If you don't have anything to say about the topic. Just reply to someone else's comment.

Do all these in the comment section, as that is where it all goes down.

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There are no further rules, please banter as you like, speak any Nigerian language (Igbo, Yoruba, pidgin, Efik), anything, as long as someone else can understand.

However, please don't take it to the extreme

This week's engagement starts Immediately after you see this post and ends on Sunday at 11:59 pm.


Prizes for this week

Thanks to the @starstrings01, @crossculture and @elcomentador. They helped curate comments every week


Prizes are distributed to the winners after considering their interactions and also their contributions to the topic. This week's prizes ;


1st prize - 2 Hive + A very good upvote in a selected post of yours in the week! + 100 Ecency points

2nd Prize - 1 Hive + 100 Ecency points

3rd Prize - 1 HiVE + 100 Ecency points

4th Prize - 1 HIVE + 100 Ecency points

5th prize - 1 HIVE

Prizes courtesy of:

@Samostically - 5 Hive + 400 Ecency points
@ksam - 1 Hive
@starstrings01 - Upvote & Curation.

Note:

If you win and fail to provide a quality post in 7 days, you forfeit your " quality upvote" (post must be less than 24hours old)

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Topic Of Discussion - "Naira Vs Dollar"

Guys, It's getting serious everyday. Our Naira keeps losing value. Even though we earn in dollar on hive, I don't think we would escape the inflation in prices.

It would be lovely to hear what you all think about our Naira.

Would the price get to N1000 per dollar?

What items do you think would increase in price aside petrol??

What do you think is the main problem here?

Can you profer a solution to the country's problem?

Let's have fun.. Gist, love and learn!


Special Prize

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I will be giving 2 Hive to one person who invites someone new to join us!

Note: The person must be Nigerian and must make at least two comments in this post.

Feel free to tag your friends that have also been away... Soon the prizes will get bigger!


Let the discussion begin...

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@deraaa, @B0s, @merit.ahama, @peaq, @monioluwa, @brightdavid, @stevenson7, @obrisgold1, @jaydr @mayorkeys, @wolfofnostreet @readthisplease @young-boss-karin, @tukem1 @k-banti, @iskafan, @chosenfingers @onwugbenuvictor, @monica-ene @heskay @etiboy56 @doziekash, @chincoculbert, @funshee @omosefe @ozohu @attentionneeded @popmanj @estherscott @vickoly @gloriaolar @pianokills @hepziba @tblings-art @anissignature @ijohnsen @manuel6 @khaleesii @kenechukwu97 @abidemiademok21 @otshotz @blezyn @uzuka @mrenglish @bbjmed @uddydan @reineesmay @b0s @prechidi @joydukeson @benii @henryce @nkemakonam89 @zestimony @surgeoncaspar @kingobonnaya @belemo

You permitted me to tag you but you can always tell me to stop anytime!

If you are new, and you want me to tag you on the engagement posts, please indicate in the comment section.

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(Edited)

I sincerely hope it will get to 1000....lol. It will help clear off my debt 🥺

Hey, @hopestylist, would you like to join the conversation?

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😂😂😂😂 Me sef want am but e go affect us when we buy things oo 😅

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Lol. That's the same I said above. It's when we want to buy something that we would truly understand what's going on.... Lol 😆😆😆

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I'm already here but I don't know if I'd be able to come up with something, let's see how it goes, thanks by the way sweetie.

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Nigerians and their selfish thoughts.
E go pay shaa. If you get $100 that is equivalent to #100,000. See money!!!

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Ahaha. And one tin for Naija be say, when price go up, e nor dey come down.

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Lol #100,000 would be worthless 😪.. just like the way #1000 is not worth as it was before.

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Naira is in a mess. We should even stop comparing it with the US$, common Ghana¢ is valuable. We need to act promptly.

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🤣🤣🤣🤣
This babe .....it will help u in this but then, what if the many nigerians that knows nothing about dollar ?
Honestly , it's already hitting us bad in some many stuffs

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Lol. But don't forget we are not exempted from the rising price of goods. A bread that i normally buy for #350, no go for #750. The side effects are really higher than what we think we can benefit from USD getting to 1k.

I don't pray for it to get to that ooo

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Why would you wish like this... You are not patriotic at all.

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@edystringz, @teknon, @princessbusayo would you guys love to see dollar trading at 1000 naira 😁

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E go better because I dey earn in dollars but e go affect us last last 🤣🤣

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Hahaha.... That's the same thing I am saying oooo

But wait until you want to buy something in dollars... You go hear am for body 😂😂😂

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There's no difference because as the dollar to naira price increases, so does goods increase in price. Imagine that one pasta here is 400 (that's just the price I got it at last, I don't know how much it'll be when I visit the market again) and they've even reduced the quantity. So I don't think it's of any good. The number may look tempting but in reality, a thousand naira now is worthless.

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You are right. By the time we go back to the market again, it would amaze us to see how things has gone up again.

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That's just it. It's not getting funny imagine writing a list of 4500 and on getting to the market, everything has an increment, you'll end up buying a few of those things which can be really annoying. What I do is carry extra money with me to avoid embarrassment

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Its now 500naira , eggs now 100
For one.. its funny how even items
We don't import is affected by dollar.

Nigerians will still Add greed ontop of everything 🥺

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Exactly! The truth is because they spent more on other things, they too should increase their goods to make cover for it.

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Its just an excuse joor, we should learn to pity for each other jare

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Nigerians will still Add greed ontop of everything 🥺

This is just the most annoying part of everything. There's this old lady that sells close to my house. It's like she's always waiting for the next increase in price to top the price of her goods ×10. Worse of all is that she doesn't bargain no matter what. It got so annoying that I asked her one day if she wants to build a skyscraper off greed. Ever since then, I nicknamed her skyscraper. Lol.

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Pasta is #480 now.. soon to be #600 as Naira has devalued.

Yeah, #1000 would be worth nothing. Imagine a meal be worth #1000 at mama put canteen..

I buy a meal for #700 now.. 😪

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Pasta is #480 now.. soon to be #600

Sad reality.

Imagine a meal be worth #1000 at mama put canteen..

Haha! I won't be surprised.

I buy a meal for #700 now.. 😪

Jeez!

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I would choose dollars anytime, maybe because I enjoy benefits in dollars especially here on hive. Asides petrol, the prices of smartphones is overwhelming these days, God help us. You can't be angry and just change your phone again.

The solution right now is get your pvc... Ciao

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All my money is saved in dollars and I only saved in naira for emergency money 😂😂
I don go get my pvc oo even though I never collect original one. 😁

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Oh waoooo, that's a great one.

Pvc na pvc... Well done👍

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Love the ending part of it. We all need to have our pvc ooo. Voting rightly is the long term solution we need as a country. If not, we would continue in this awwful trajectory. Glad you already got yours @princessbusayo .

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The only solution I see now is to JAPA leave Nigeria!

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Also, as you prepare to JAPA, hope you've got your PVC?

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I have lost hope in getting mine!

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Hmmmm. Guess your efforts were not enough. It's ending tomorrow though.

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We that are privileged to be on the blockchain will always prefer dollar because we earn in dollar. We just need to get more Nigerians to believe in crypto but I'm not sure how.

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It's not easy oo... Even to just come and write simple blogs and earn, they claim its not worth it or it's waste of time. But we here, we know the benefits

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Exactly, that's true. They feel we are wasting our time whenever they see us with our phones, I just hope they understand someday.

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Lol you get it 😅🤣... They only think of what they would gain now and not in the future.

It's God that saved me from that mindset, if not I would not have come for far.

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Happy Friday fellow Nigerians.

The hike in price of our local currency is quite worrisome. The truth is that some people are making a living out of this and the downtrodden are always at the receiving end. It is such a pity.

For the common man, our daily needs like garri, rice, beans, fish, palm oil, meat and the likes may become commodities in extinction if the exchange rate shoots up to #1,000.

Electricity Tarrif

One thing we may not find funny is power distribution. It is no more news that our power supply is in a pitiable state. If we combine poor power of our currency, the distribution companies may have to make the matter worse because staff may demand a pay rise and maintenance of facility would become costly.
Already, the Nigeria Labour Congress is decrying the state of the nation in a peaceful protest. We are really sitting on a keg of gunpowder.

Learning Materials.

Come September, school student will be resuming for a fresh session. Since most of the materials used in schools are imported, the #1,000 per dollar rate will make books and other stationery expensive.
I wonder of low income earners would be able to send their wards to school.

Building Materials.

A bag of cement is now about #4,000 or even more. To build a house with this forecast of exchange rate may become a misery.
Landlords will in no small measure increase rent. This will still fall on the peasants.
People who have started a building project may have to abandon it first to provide for stomach infrastructure, which is the main course of living.

Some people, like you and I who are into crypto or writing blogs and earning in dollars may be happy buy more than 80% of our national population may be drawn below the poverty line in the pyramid of social stratification.

This is my candid observation, should a dollar worth #1,000.

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It's really so sad our currency keeps dropping and if it hits #1000 per dollar, it will affect people who do not deal on crypto more. Like @iskafan was saying, for me it will be nice if dollar hits #1000 but it's going to affect a lot of people too.

Like you said, children will be resuming their first term soon, it will be really hard for most parents, especially the ones that have more than one child because most of the books we use are said to be imported.

If only the government can just accept crypto currency right away, lol.

You've spoken well brother, I think we all need to join heads together to look for a solution to this problem.

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(Edited)

Hope, don't even remind me of this coming september oo because it might be a nightmare if dollar keep rising 😭

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No doubt, when dollar rises, those of us here will smile to the bank. But the effects will still boomerang.

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Yes that is true, I'm even confused to say which is better, I only know that no matter what, we will survive.

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Nigerians are known to be hardwood. We survive under any kind of situation..

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It would shock us after smiling to the bank and returning back home from the market with a sad face. It's in two ways for us. When we have cash out a big amount of money, things we would buy won't even go anywhere for us.

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Nah now you come Princess 🤩🤩
It's indeed a two-way something.
So the best thing that will happen to us is for the dollar to calm down 😊

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Hehehe, I know right, so we just have to pray our Naira gains value.

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Exactly my darling

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Nawa oo
We dey complain, you dey waste matella abi wetin I dey see for the tin 😂😂😂

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Hahaha, it's chocolate oo, I will lick them later, haha.

If it doesn't stain my body it will not be sweet 😂😂.

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God wil provide for you and hubby oo

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The more we spend dollars in our country, the less the need for naira and it gradually devalues.

That's why CBN is trying to halt dollar transactions in Nigeria.

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Yes that's true but it's almost impossible to stop using dollars because even them that are bringing these rules, they make use of the dollar.

They know what they are doing, it's just sad that the masses are bearing the burden.

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Yes oo
Someone told me if you're happy that dollar increase because you earn in dollar, don't you know if you covert to Nigeria things will still be expensive because we use Naira here

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That's true but I don't think it will affect you that is earning in dollars too much , it will affect those who don't earn in dollar more.

Just imagine you are paid $50 monthly and someone is paid #50 monthly, who will feel the weight of the economy more here in Nigeria? It will surely be the one that earns in Naira.

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Sure we have little edge over them

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Yes.

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We should be happy we met hive
Do you know this period i was wishing i met hive earlier 😂 like last two years

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Yes oo, it's a really great privilege to have found hive.

It's like that sha but it's better late than never, right?

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Yes oo
Make i use this motivation hold body😂😂

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Aiswer everything will definitely skyrocket.........
Building materials, learning materials and everything
God help us

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What can we do? Earn more dollar equivalent to be able to meet up with the demands of the time.

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Work more , hive more , but get your PVC ..

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That's very sure. PVC ready. Mission to oust evil governance.

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may be happy buy more than 80% of our national population may be drawn below the poverty line in the pyramid of social stratification.

This is where my cry starts....honestly I pray dollar fall down oo because the effects will be bad😭

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It looks like it won't.. it would have drastically done that.. but the dollars has so much support that it can't just drop like that..

Awa stori looong..

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Hmmm
Then praying and fasting would be needed 🤩🤩🤩🤩

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I know ..
Na why we dey hear..
Casting and voting too

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You have said well and with what you have listed here which would definitely affect many people especially those who can't afford daily feeding, I wouldn't pray for dollar to enter such rate except there is a way it won't touch the hike in price of all commodities.

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Talking about school children on vacation... Let me use the opportunity to share this contest and anyone that may be interested. @nkemakonam89 you may be interested too, kindly tag a friend to check it out.

https://peakd.com/hive-181017/@crossculture/school-vacation-at-home

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Ah!! I should put hands on the tab for this. I'm in already.

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Wow
Thank you so much for this yummy info. I have gone through the link and it's so interesting . I have tagged a friend I know may love this and rebloged too for more visibility 👍🥳

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Omo building a house in Nigeria would be no small thing oh 😪

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But people still dey build😂
Na to know where the money dry for this country

Money no dey, money no dey but we see people spending Millions
God abeg🥺

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Even if the building material cost pass as e dey now, people go still dey build. Nah pesin wet know way I fit build..

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Omo not only these tho
90% of what we are using in this country is imported imagine
Even what we produce here are still high as a result of what they use in production

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Now, you can imagine the misfortune that will meet us if a dollar is worth #1000. Its a no-go area.

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Let's pray harder
It only takes God now seriously
Because it's almost getting there

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As good as prayer could be, we need to begin to act. I may not concur to revolution as the way out but most developed democracies around the world passed through this phase too and policy implementation helped out.

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Yeah you are right
I hope you have your PVC ready?
That's our voice

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My PVC is intact.

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Correct
Our vote will count

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This time around, the government agencies are doing what they ought to have done to ensure a credible election. I sincerely hope it works.

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Me too
Although there will still be forms of rigging
We need God intervention

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The rigging would be minimized, at least.

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The truth is that this year
Vote must surely count

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Vote has already started counting. The Osun elections is a good evidence.

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Oga.. infrastructures na infrastructure o.. stomach or building ..

Na live matter.
It will be a survival of the richest.. thank God for those here who will earn .. it's got to be that even in such recession, hiving is highly benefiting

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Sure. How much can you keep earning on hive to sustain you on a daily basis. ?

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I m not even thinking of being sustained on hive.. it's is mostly creating the opportunity and stacking up more hive for liquidity

But if it comes to living on hive, At the current rate.. atleast 20$ aweek. That's about 14000k or so.

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Would the price get to N1000 per dollar?

Hahahah, with the way things are going and how it is now #700+ per dollar, I can't doubt it oo. Even though I dey happy say dollar is equivalent to #700 and still going up 😆😆😆

What items do you think would increase in price aside petrol??

Don't let us talk much... Na foodstuffs go increase and ladies stuff 🤣🤣🤣 this thing go Eventually affects everyone of us oo. Though I like am because I be blogger and I dey earn dollars.

What do you think is the main problem here?

I don't know yet.

Can you profer a solution to the country's problem?

No idea for now 🙂🙂

@mercysugar, what do you think about this situation?

@george_dee abeg show face here. Make we yarn small 😌😌

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I think say the effect go worse compare to wet in person they earn from blogging.

For instance, say you get $10 per day and you need to buy rice and garri and still make soup, by the time foodstuff increase, you go see say your dollar after making the exchange may not be able to sustain your stomach infrastructure.

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For instance, say you get $10 per day and you need to buy rice and garri and still make soup, by the time foodstuff increase, you go see say your dollar after making the exchange may not be able to sustain your stomach infrastructure.

True..

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Thanks.

We need people like Dr. (Mrs) Ngozi Okonjo-Iwealla to help manage our economy. There are lot of experts on economy but politicians are just feeding on our national treasury, leaving us vulnerable.

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I haven't heard that woman say a word since tho
If dem say make she come rule Nigeria
Will you accept??
You people will be like she's a woman 🤔

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I am indifferent tho. This woman is a class on her own. She is the president of the World Trade Organisation for crying out loud. A position that was keenly contested by world best economists and test she delivered.
Who men help since 1960?

Take a cue from the Liberian female President, Helen John Sirleaf. Nigeria need Okonjo Iwealla now.

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That's if many people knows this
They should just allow women rule in this country..But No they see us as less, that's the problem

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No all women can lead, some are called for it. You can does what happen with our former petroleum minister, Madueke Alison.

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I'm talking about the good women who can lead there
They might not her
Not personally you but others because she's a woman

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In that case, we need the women who have shown through their active roles in public offices to come to the limelight in our politics and to change what have been abused.

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Maybe you should write to the government 😂
No female Presidential candidate sef because of slim chances

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And the one that contested at the primary election stepped down for Tinubu.
What a shame!!

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See na
Imagine what has transpired we know nothing about

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Na true you talk sir. Lasslass, e go bounce back on us. Lol

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I tell you.
Make the value just remain for #600, at least everybody go dey fine.

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Princess , honestly I am not happy at the dollar increase due to the general effects on the cost of living . As a blogger earning via crypto , we are on the gain but then, we will still spend more and what if others not earning in dollars 🤔🤔

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You are right. Everyone would still be affected because dollar cannot be eaten. We go still convert take buy something for market 😂😂

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I pity bankers and all others 😪😅🤣... With a stagnant salary and stress involved again.

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Honestly, it won't slide well with them at all and don't be surprised that the smart ones will resign willingly and search for a better option to suit with the situation 😄

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Yah that’s true. Or they find a way to venture into other things as well.

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No one knows an ideal solution, we are just profering solutions

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The solution na JAPA commot Nigeria.. Ghana sef dey 😅🤣

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Oya send me money make I follow Starstrings 🤣🤣🤣
E easy for person wey get money ooo. What about those who can't afford it? 😔

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I like am because I be blogger and I dey earn dollars.

When you convert am to Naira and you see say things don cost
The money no go still reach
Omo

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This country eeeeh, e don tire person, all we could ask for is God intervention.

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(Edited)

Hello my amiable naija peeps🥳🥳

Would the price get to N1000 per dollar?

Very possible oo and I predict this to happen before the year runs out!

What items do you think would increase in price aside petrol??

Phone oo...in fact, it has increased already. Getting to the slot yesterday to buy a phone, I was astonished at the very high cost compared to two weeks ago when I priced it. In fact almost everything will be affected and this will affect Nigerians no matter how much dollars we earn, trust me

What do you think is the main problem here?

Our bad government of course
With their bad management💁

Can you prefer a solution to the country's problem?

Hmmm, the only solution I have is to place a good man on that seat hopefully, he might revive Nigeria a bit and also God's intervention.

Daalu kwanu (Una Weldon!!)

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Aiswer with the rate e fit reach 1k per one.
And that true na phone to go too suffer m
How did we get here??
Dollar of 190 one time like that

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🤣🤣 we wanted change na
Na we don see am
God help us o

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Gadget carry the dollar wahala for head ooo
Abeg hold your phone and Laptop well
No jokes

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I dey tell you babe
But where have you been oo😊

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😂😂😂 hustling 🥺🥺
Asuu strike don make me go find work oo

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Check out the last post from @hivebuzz:

Hive Power Up Day - August 1st 2022
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(Edited)

Okay with the rate at which that dollar is moving there's high probability it gets to 1000 because in a day it increass two times conservatively.

WHAT DO YOU THINK WOULD INCREASE ASIDE PETROL
Literally everything is going to I increase coz we import 70 percent and even the one that is within will increase all in the name of dollar.
Nigeria and trying to make use of every situations

THE MAIN PROBLEM?
It's definitely those behind our finance and economy.

This country's problem is from the root
Everyone up there is corrupt fighting for their pocket.
As for me every one in that house of assembly should just step down
And then before the election of new members a law should be lay down
For every one not making wise use of his or her position should be strip off power and punished.
That would help,though there's no guarantee it would be hundred percent perfect coz people will still tamper with the law but that should go a long way.

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For me i think what we import reach 90percent
Even what we sell here price increase because we use what they import for production

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The honest truth is that naira is high on drugs. Who believed it will get to 710 per dollar a it is currently. So, the likelihood that it will get to 1000 per dollar is very possible.

With this devaluation, everything else will increase in price. Can't believe I'm buying sweets for 20 naira. What a country!

A lot of things can be said to influence the rapid devaluation of the naira, and even hidden factors such as the ASUU strike. Educational institutions are serious financial and economic outfits that if they stop functioning, the economy suffers badly.

But we just hope shall, as for now, the only thing we can do is sit and watch.

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Sweets for #20
Nawa oo
Biscuits now na air full am
What a country??

lot of things can be said to influence the rapid devaluation of the naira, and even hidden factors such as the ASUU strike. Educational institutions are serious financial and economic outfits that if they stop functioning, the economy suffers badly.

Really you made a point here oo i have never thought of this
I could love if you explain more tho

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I'll try to do more explanation soon. Maybe, a leofinance post will go a long way. Or even a Hivenaija one

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Okay
I would love to read
Feel free to mention my name

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(Edited)

But just to give you an idea, I runba business in a very small school. A health college, and daily we could host of 10-20$. Imagine what harm is caused by closing about a 100 institutions of learning.

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That's true
Imagine people that depends fully on business in campus how they have been coping for 6 months now and lecturers too

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Naija!, I greet oo

Like seriously, this is a season like no other. In a season like this, things ought to be going well but this season the reverse is the case — just like I wrote in my earlier post.

About the devaluation of Naira,the probability of dollar getting to 1k is very possible, and I see it happening before the coming election. If this eventually happens, we are all going to be affected — whether we earn in dollars or not, it would be a problem for us all, so far you still in this country.

The prices of things will skyrocket. The bread that a common Nigerian can easily afford will no longer be affordable. Several SMEs that the youths make a living from would close up. Students hoping to fund themselves from their savings in Naira, would have huge deficits, as their savings would have devaluated. While there are some benefits, especially for those of us earning in USD, the effects would will overshadow the benefits.

Also, as the country is broke, the only source of income for the government now, will be coming from tax. Taxing the citizens more, seems to be the only option left for them now. In fact they have made it know that they would be increasing the tax on our phone calls and data subscription, by 5%.

WHAT CAN BE DONE?

At this stage, I don't think there's anything we — as the citizens, can do. Everything lies in the hands of Mr. President and the CBN governor. On the president's side, there's need to cut our spending as a nation and pay more attention to our production.

On the other side — the Central Bank, the Governor would have to consider policies that can strengthen the Naira against the USD.

Though I am not expecting this current administration to do any of those mentioned above, but they are highly recommended, if not things are going to get worse.

However, as citizens we need to do our best in making sure we elect credible and competent leader in 2023.

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You ended well
They may nor do anything because they are about leaving
We just pray for a good government come next year
I hope you have gotten a PVC?

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Well said bro. I have my pvc, how about you?

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I'm a girl actually 😂😂
And yes i have mine

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Hahaha, sorry for that. And lastly, hope you're OBIdient?

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We get any other president before 😂😂

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With this few point if yours, I will now yus-fully rest my case. Nice meeting you ma'am.

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😂😂😂😂😂 i get all your points

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Na to get PVC in the next 24 hours if you neeer get am oo

You have said well..
Ngwa take colanut..

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Hahaha

Kolanut bukwa for ndi di Obidient oooo

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Ehhhhen..

Ngwa jiri mmaya gbatuo ya'la
The Lord bless your soul.

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Great input sir.
Consumption to Production is the answer. Nigerians are trying, good leadership is what is expedient now for overall progress.

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Good to be finally back, really missed this program
Happy weekend friends

Would the price get to N1000 per dollar?

Something that got to #710 can reach #1000

What items do you think would increase in price aside petrol??

Almost everything in Nigeria is imported, imagine this dollar now. The worst is phone and system their prices has increased.
Funny enough even food stuffs produced in Nigeria has also increase in price 🥺

What do you think is the main problem here?

Bad Government! Bad Government! Bad Government.
We have a very selfish government who came only to steal. The inflation rate increase and naira got devalued.

Can you profer a solution to the country's problem?

Omo like this only what this country needs it prayer oo.. nothing more
And God should help to give us a good Government come next year

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I m joining this late but still I think some relevant things need to be repeated.

The naira devaluation is like a story of a child whos parents have given up on and are feeding the children of their neighbour instead of him, only because the neighbors kids knows thier secret. Naira is only a victim of circumstance. I l probably write a post on this.

1000 and beyond oo, since we are but easy to learn.. this increase will cut across and everything including water will get cost.

We know what to do, spend Naira in Nigeria. But no they ll keep spraying dollar and campaigning with it. Wait till November and see what's gonna sup.

Hold you umbrellas people..

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