Na so everybody see am and if our government are not ready to do anything about the present economy, things will continue to get worst by the day. If we can buy a satch of water for #50, then what do expect from other commodities.
If a sachet of pure water now costs 50 naira, lowest sugar wrap over 50 naira, then what do we do with 20 naira denominations, 10 naira denominations, or 5 naira denominations? I feel like those currencies should be out of the market right now because they make no sense. Nobody would accept them, not even the Keke or bikes, or anything else. If you’re taking transportation from your home to maybe less than a kilometer, nobody will charge you less than 50 naira. So it seems like 50 naira is now the lowest denomination in town, and the dollar is the highest denomination because there are things that you want to buy with 1,000 naira that should be possible as the highest denomination. However, this is not the case. So now, I’ve already assumed that dollar is the highest denomination and 50 naira is the lowest denomination in Nigeria.
Upon the way the price of things are increasing people are still buying. the one that shock me the most is the price of cement that was 7500 naira before is now 12500 and the big men who live abroad that have their here in Nigeria are still buying why will the price not increase already dollar is affecting the economic of the country
That why I love this country because they are suffering and smiling. And the way am seeing it the country will soon be unbearable for the poor to live. We are the one complaining but our ministers are not because they are really gaining from the country. but we should all pray for the country only player can help the country now
Hey, I hope you didn’t write this yesterday or the day before because if you did, you’re already late and may not be aware of the current currency situation. As we speak, the price of a bag of cement is over 10,000 Naira, both for the regular cement and the white cement used for POP.
The dollar exchange rate is over 1,800 Naira today, compared to around 1,700 Naira yesterday. Predicting it to be 1,200 Naira is already outdated, and unfortunately, it’s anticipated to reach 2,000 Naira soon. Nothing seems to be happening from the government’s side to address this issue and people are clamoring for action, but the government is just sitting there without taking any appropriate or critical decisions to solve this problem. Let’s watch and see what unfolds.