Dr. Lady
The Dollar to Naira exchange rate yesterday was $1 = N1,475.
Today the exchange rate is $1 = N1,520.
Are you thinking what I'm thinking? Don't get surprised if it hits N1,800 by Valentine's day.
We all know why this problem has persisted. There's so much Naira chasing very few Dollars. There's more $ outside the banking system now. All the $ in Nigeria is in the hands of Politicians. Very sad.
Our Export to Import ratio is very poor. We are so dependent on Imports and do little or nothing to scale up our export capability.
How then do we earn more Dollars when we rely solely on Oil for our Forex earnings?
Costs of commodities in the market continue to skyrocket. How then do we save ourselves? Multiple income streams and finding ways to earn in US Dollars is the best way out of this quagmire. May God help us. These are truly trying times for most Nigerians.
11/12/2023
I don dey advertise for next year
Shine ur eyes
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