NewStats: 3,264,656 , 8,184,359 topics. Date: Wednesday, 11 June 2025 at 09:44 PM 2v3j3w

The Naira, Detty December, and the Return of the IJGBs: A Tale of Dollars, Stars, and Economic Opportunity

There’s a certain irony to the plight of the Naira: while its devaluation has sparked anxiety among economists and policymakers, it has also created a peculiar kind of reverse attraction. Enter the IJGBs—“I Just Got Backs”—our brothers and sisters from the diaspora who return to Nigeria every December armed with their foreign currencies to partake in the cultural phenomenon that is Detty December. The Naira might be down, but Detty December is most certainly up.

Why the sudden diaspora exodus to Lagos? Simple. The math. Let’s face it: balling in the UK, USA, or Canada is an expensive sport. Bottle service at a high-end club in London might set you back £1,000—without even a hint of a celebrity in sight. Contrast that with Lagos, where not only does your dollar, pound, or euro stretch further, but your odds of rubbing shoulders with global superstars like Burna Boy, Davido, or Wizkid at a party skyrocket. Try pulling that off in Toronto. Drake won’t answer your DMs.

Detty December: The Economic Engine

This seasonal influx of IJGBs has done wonders for Lagos’s economy. Think about it: every dollar spent on airport arrivals, luxury cab rides, hotels, clubs, and beach resorts trickles down into the local economy. Everyone is eating, from cabbies hustling airport pickups to beach resorts offering cocktails with a side of sunlit ocean views. Even the guy selling suya outside Quilox knows he’ll be grilling all night.

Consider the sheer scale of it. According to reports, Lagos hotels are fully booked weeks in advance. Clubs are packed, menus upgraded, and prices hiked, all because these IJGBs have essentially turned their December homecoming into a festival of spending. It’s not just about the parties—Detty December has become a major economic driver.

A Vision Beyond Lagos

But here’s the question: what if every state in every region of Nigeria created its own version of Detty December? Imagine tourists flocking to Calabar for a carnival, Kano for cultural festivals, or Port Harcourt for seafood feasts. The potential here is staggering.

Take the Caribbean, for example. The Dominican Republic made $10 billion last year from tourism alone—no oil, no natural gas, just sun, sand, and hospitality. Tourism contributed over 12% of their GDP, showing that a country can literally live off its ability to host, entertain, and delight visitors.

Nigeria, with its diverse cultures, cuisines, and landscapes, can do even better. We already have the raw material: vibrant cities, stunning beaches, ancient monuments, and, of course, our music and entertainment industry, which is now a global force. All we need is organization, investment, and infrastructure.

The Naira’s Hidden Opportunity

While we lament the devaluation of the Naira, it’s inadvertently made Nigeria a more attractive destination for foreign spenders. Diaspora Nigerians now realize they can ball on a budget, live like royalty, and reconnect with their roots all in one swoop. The same logic applies to foreign tourists. A well-structured tourism strategy could turn Nigeria into a prime destination for Afrobeat enthusiasts, cultural explorers, and global adventure seekers.

Here’s the kicker: tourism isn’t just about creating jobs or generating revenue; it’s about storytelling. Every IJGB that goes back to the UK, US, or Canada with tales of star-studded parties, epic adventures, and unforgettable memories becomes an ambassador for Nigeria. They tell their friends, post on Instagram, and spread the word, fueling the cycle for the next Detty December.

Let’s Capitalize on This Moment

To truly harness this potential, we need a coordinated effort. States should develop unique offerings that celebrate their culture and heritage. Private investors should build more hotels, resorts, and entertainment hubs. The government should streamline processes for tourists, from visa policies to transportation networks. And we, as Nigerians, should continue to open our arms to those who want to experience the magic of our country.

Detty December is more than a season; it’s a blueprint. A sign that despite our challenges, we have the creativity, energy, and resources to build an economy that isn’t reliant on oil. Who knows? In a few years, we might be talking about Detty Year-Round.

And let’s be honest, where else can you catch Burna, Wiz, and Davido in one December lineup while paying in Naira rates that feel like a gift from the gods? Nowhere but here. Let’s build on that magic.

Source: Malali

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Our delusional sets will come and tells us now That because they did not vote Pandoro, they are the only one celebrating while the other part that voted tinubu could not buy fowl! Let’s wait for them and laugh!

Lol,

I fear that the Nigerian predatory system will wreck, tax, extort and kill these soon. One person in government will soon devise a means to extort the opportunities and drive it to the ground.

Especially, if the business is set up by the common man that is not connected to Alausa or Aso Rock.

But if we can have sense and make the best of the opportunity, Nigeria will do wonders. Detty Dec., will hopefully compete with Ibiza and Tomorrowland.

A country where it’s own currency is scarce for its own people every December…

Makes sense.

Can Calabar carnival be replicated in Lagos or Ogun every quarter of the year? E go make sense

Craze talk. Flex abi na flexibility of docility.

Detty December no be for where Hisbah dey o

10thTenthMan:


Lol,

I fear that the Nigerian predatory system will wreck, tax, extort and kill these soon. One person in government will soon devise a means to extort the opportunities and drive it to the ground.

Especially, if the business is set up by the common man that is not connected to Alausa or Aso Rock.

But if we can have sense and make the best of the opportunity, Nigeria will do wonders. Detty Dec., will hopefully compete with Ibiza and Tomorrowland.

A country where it’s own currency is scarce for its own people every December…

As usual, come up with a meaningless post.
So all the cabs, hotels, suya spots, clubs etc etc that benefits from this are connected to "Alausa" or "Aso Rock" before they are operating?
Must you guys write when you don't have anything to write?

Our own currency is scarce every December?
I'm just hearing it for the first time and I have spent at least 24 of the last 30 Decembers here in Nigeria.

JagabanBorgu:

As usual, come up with a meaningless post.
So all the cabs, hotels, suya spots, clubs etc etc that benefits from this are connected to "Alausa" or "Aso Rock" before they are operating?
Must you guys write when you don't have anything to write?

Our own currency is scarce every December?
I'm just hearing it for the first time and I have spent at least 24 of the last 30 Decembers here in Nigeria.

I always advise them to stick to their petty trading. Their brain capacity cannot cope with anything more complex than trading.

With only $200, you go ball taya..

Like they do say, sometimes, every disappointment is a blessing. I was watching TikTok the other day wey Ghana people dey complain say people are ignoring Accra this December period for Lagos which is true..

Naija really extra full this December o..

JagabanBorgu:

As usual, come up with a meaningless post.
So all the cabs, hotels, suya spots, clubs etc etc that benefits from this are connected to "Alausa" or "Aso Rock" before they are operating?
Must you guys write when you don't have anything to write?

Our own currency is scarce every December?
I'm just hearing it for the first time and I have spent at least 24 of the last 30 Decembers here in Nigeria.

“…that benefit from….”, please.

The hotels and resorts and clubs that make significant benefits and feel the real positive impacts are. They are connected one way or another to the seat of power in some way. Either through friendships, bribes, other form of networking.

Yes. Your currency has been scare mostly every December /towards the end of the year since 3-4 years ago, especially after the new naira notes saga. Even the dead are in a place but are not conscious of the things around them. Zombies too. The uneducated and unenlightened may also be too stupid to notice or to daft to comprehend. So for those who do not notice, it could be due to many factors.

And to those that feel they need to willfully deny facts because “THEY WANT TO BE PATRIOTIC”, it is a fact that Nigeria is a wonderful place. An enjoyable place. But has its undeniable issues and challenges like everywhere else that require progressive acknowledgement of the issues and fixing these.

Yes o, I must write even when I don’t have anything to write because I CHOOSE TO. Nothing anyone can do about it. If anyone thinks that he/she can do anything beyond online insults then I quadruple dare anyone to the beginning of their ancestors to try to do something. It will and can only end in online insults and name calling. Nothing more. This is my own contribution to the matter.

when i was younger, I used to think these types of economic articles and observations were worth a human being's time. Now I realize that this is a rant about how the ruined currency is helping people from the UK buy more drinks at a club in VI.

Meanwhile the people reading, and sometimes writing (they're often abroad based) this nonsense are suffering.

Our people are understanding the language gradually. We can create an economic frontier from tourism. First Ojude-oba steeze, Olojo, Ogbomoso carnival, Lagos regatta, now detty December.
You are right! state governments must key into it. Nothing wrong in making visitors party in diff parts of the country before leaving.
We have the population to push the narrative. Let's secure our visitors and give them enjoyable experiences. Let's do it!

After wrecking the economy the wicked APC is making up imaginary positives of the wreckage

Nothing new.. serious minded people had it coming. Like I earlier said, leave Nigeria if you can

What are we insinuating?

tommy589:
Detty December no be for where Hisbah dey o

They said Lagos, at least read first, don't let your hatred and anger guide you.🙄🙄

Outright rubbish! Everything costs 5 times as much compared to a year ago, people frowning faces up and down, you can smell the poverty and despair kilometers away.....This is not an economic flex but people looking to relieve stress, many are already shocked at the fact that despite dollars exchanging for more Naira, it all goes so fast!

Ofodirinwa:
when i was younger, I used to think these types of economic articles and observations were worth a human being's time. Now I realize that this is a rant about how the ruined currency is helping people from the UK buy more drinks at a club in VI.

Meanwhile the people reading, and sometimes writing (they're often abroad based) this nonsense are suffering.

The Chinese have refused to allow the RMB appreciate against the greenback in the last 5 years for a reason, despite frequent cries from Washington. Read my brother, It's all a game.

Lol....look at the person asking someone to read.

China can get away with almost anything now, it is
the production hub of the world.

You produce nothing but want to apply the chinese devaluation tactics? You will hawk your country on TEMU for free...mumu dem!!

Justdare:

The Chinese have refused to allow the RMB appreciate against the greenback in the last 5 years for a reason, despite frequent cries from Washington. Read my brother, It's all a game.

Which one be economic opportunity for untop money wey no get value

PulaPower:
With only $200, you go ball taya..

Even 50 dollar

Blazetrailer:
Lol....look at the person asking someone to read.

China can get away with almost anything now, it is
the production hub of the world.

You produce nothing but want to apply the chinese devaluation tactics? You will hawk your country on TEMU for free...mumu dem!!

Nigeria recorded a trade surplus of N5.81tn in the third quarter of 2024. I trust you know what means. As much as you've chosen to see no growth in your country, the fact remains, the country is moving vertically.

Ofodirinwa:
when i was younger, I used to think these types of economic articles and observations were worth a human being's time. Now I realize that this is a rant about how the ruined currency is helping people from the UK buy more drinks at a club in VI.

Meanwhile the people reading, and sometimes writing (they're often abroad based) this nonsense are suffering.

What about the financial benefits of tourism to those same suffering people?

When tourists enter Nigeria, many go on the streets and markets to buy stuff, they use taxi, they eat our food in restaurants etc. They buy fruits and suya from people on the street.

NOW IMAGINE 10 MILLION of them coming every year?

Or 20 million.

People entering here to spend dollars.

I mean, come on, man. It will help reduce poverty greatly if we do it right.

They are countries where tourism is their ONLY source of income, and they rake in huge money every year. More than the oil money that is shacking our heads.

Whoever put up this trash must be high on very cheap adulterated drugs.

Detty December no be for civil servants. It is for those earning in hard currency. Nigeria is not for people living in Nigeria

abbey621:
Outright rubbish! Everything costs 5 times as much compared to a year ago, people frowning faces up and down, you can smell the poverty and despair kilometers away.....This is not an economic flex but people looking to relieve stress, many are already shocked at the fact that despite dollars exchanging for more Naira, it all goes so fast!

YOU WILL REMAIN FOREVER POOR WITH THIS ATTITUDE.

TELL ME HOW ANYBODY CAN SIMULTANEOUSLY DECRY POVERTY IN NIGERIA, AND THEN LAMBAST AND ATTACK THE IDEA OF MILLIONS OF TOURISTS FLOODING INTO THE COUNTRY?

THE DREAM OF EVERY SINGLE NATION ON THE FACE OF THE EARTH?

A GUARANTOR OF MILLIONS OF JOBS?

EITHER YOU ARE EXTREMELY STUPID WITH A VERY LOW IQ, OR YOU ARE A HATEFUL SABOTEUR AND LOSER WHO WANTS NOTHING GOOD FOR THIS COUNTRY BECAUSE YOUR OWN LIFE IS WORTHLESS.

abbey621:
Outright rubbish! Everything costs 5 times as much compared to a year ago, people frowning faces up and down, you can smell the poverty and despair kilometers away.....This is not an economic flex but people looking to relieve stress, many are already shocked at the fact that despite dollars exchanging for more Naira, it all goes so fast!

where is the lie

If you like go dey rub shoulders with them. In few days time you go know WhatsUp.

They're armed with foreign currencies. If then close eye change 5K dolls to Naira, then go shut down any club dem enter. The balling go be on another level.

Brenbentondiaz:


I always advise them to stick to their petty trading. Their brain capacity cannot cope with anything more complex than trading.

That is not a sensible response.

jazzman7711:


What about the financial benefits of tourism to those same suffering people?

When tourists enter Nigeria, many go on the streets and markets to buy stuff, they use taxi, they eat our food in restaurants etc. They buy fruits and suya from people on the street.

NOW IMAGINE 10 MILLION of them coming every year?

Or 20 million.

People entering here to spend dollars.

I mean, come on, man. It will help reduce poverty greatly if we do it right.

They are countries where tourism is their ONLY source of income, and they rake in huge money every year. More than the oil money that is shacking our heads.

ok, this is how I see it.

You have 50,000 Naira in the bank
one demonic president arrives and drops the currency by 75%
So for no reason of your own or not act of your own doing, your 50,000 naira can not buy you what N12,500 was supposed to buy you when you were saving the 50,000. so now, in reality, you have 12,500. But there are people who do not have the same demonic ape of a president
and because your money is worthless it is easier for them to spend their money in your country.
So they come to Nigeria, and they buy 10 bottles of malt directly from you. In a normal year they would have bought 5.
Did something good just happen?


If I break your left leg and give you a cane you can only use in december, did I just help you? What if someone wrote and article about the advantages of having your leg broken because they noticed that you received a can in December, would this person be normal?

We allow people to get away with a lot because they can use economic grammar. Lets also that some industries benefit from tourism but all people suffer from currency collapse