Home / Naija Gist / Metro life / Floating the Naira: The Naira is now ₦1348 to the dollar, and you blame Tinubu – Reno

Floating the Naira: The Naira is now ₦1348 to the dollar, and you blame Tinubu – Reno

Perhaps you have not heard that the Naira has been floated. That means the laws of demand and supply determine the value of the Naira. Gone are the days when the government artificially set the Naira’s value. And all major Presidential candidates said they would do this, except Kwankwaso. If you want the Naira to be appreciated, you must patronise made-in-Nigeria goods and services.

Every day, we as citizens spend $20 million on MTN and Airtel. How can the Naira rise under those circumstances? If you are one of the 130 million Nigerians using MTN and Airtel, you are partially responsible for the state of the Naira.

Should you be surprised that your ‘child’ looks like your neighbour when you always send your wife to shop at his compound? So, why are you surprised at the state of the Naira when you are sending your money to South Africa and India? GSM and Internet data are the most used goods and services in Nigeria. If we all use Glo, the Naira will rise in value faster than the body part of a man happy to see a beautiful woman at the beach.

But no. We all have very creative reasons why we must use MTN and Airtel. We do not understand the cause-and-effect relationship between our consumption habits and the value of our currency. Go to South Africa and India and see if they even buy anything from Nigeria. The only area that Nigeria dominates in South Africa and India is prison. Their prisons are full of our citizens. Please fact-check me!


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