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Nigerian Naira And Its Value - Business (2) - Nairaland

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SEE The Nigerian Naira's Exchange Rate To The Dollar As At Today / Brief History Of The Fall Of The Nigerian Naira / Nigerian Naira Or Ghanaian Cedi Which Is Stronger? (2) (3) (4)

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Re: Nigerian Naira And Its Value by Hgold(m): 11:51pm On Oct 09, 2013
Wetin concern me
Re: Nigerian Naira And Its Value by Afam4eva(m): 11:51pm On Oct 09, 2013
Eze Promoe: It would thus look like comedy when I tell some kids here that I once bought a basin of garri for N5 around 1990 undecided
Nwanna, has anyone told you that this your font and the color dey blind eyes. I just came back from the optician. Na god save me.

2 Likes

Re: Nigerian Naira And Its Value by trolling(m): 11:59pm On Oct 09, 2013
greatgod2012: Devaluation of our currency is one of the major steps to take to regain the value of our naira.
shey u no dey get econs teacher when u dey school....u r so clueless as to why currencies are devalued
Re: Nigerian Naira And Its Value by manny4life(m): 12:11am On Oct 10, 2013
greatgod2012: Devaluation of our currency is one of the major steps to take to regain the value of our naira.

Really? How so? Please explain
Re: Nigerian Naira And Its Value by lorddarshwood(m): 12:21am On Oct 10, 2013
ichommy:

PDude, you fall my hand big time 30 for Keke, by this time. Where are you coming from?

He dey waka come back from night club after him don blow 1million ontop woman(singing sound sultan song)I spend my money everyday on top of woman. cheesy grin
When a gun man dies ; we shoot all night, When a drunkard dies ; we drink all night, When a Christian dies ; we pray all night.... erm,... What if a prostitute dies..., wat follows
Re: Nigerian Naira And Its Value by EzePromoe: 12:30am On Oct 10, 2013
Afam4eva:
Nwanna, has anyone told you that this your font and the color dey blind eyes. I just came back from the optician. Na god save me.
I thank God for you. Old men suppose dey read newspaper, no be to come strain their eyes for internet.
SIGNS OF OLD AGE tongue
Re: Nigerian Naira And Its Value by msogey(f): 12:55am On Oct 10, 2013
You are very silly. Smh. That's how I was at d supermarket today to buy some hair products and while at the counter, d guy infront of me requested a pack of durex. He didn't even do it codedly. I just looked at the guy with scorn. angryYou are very silly. Smh. That's how I was at d supermarket today to buy some hair products and while at the counter, d guy infront of me requested a pack of durex. He didn't even do it codedly. I just looked at the guy with scorn.
Re: Nigerian Naira And Its Value by spikesC(m): 1:01am On Oct 10, 2013
ms_ogey: You are very silly. Smh. That's how I was at d supermarket today to buy some hair products and while at the counter, d guy infront of me requested a pack of durex. He didn't even do it codedly. I just looked at the guy with scorn. angryYou are very silly. Smh. That's how I was at d supermarket today to buy some hair products and while at the counter, d guy infront of me requested a pack of durex. He didn't even do it codedly. I just looked at the guy with scorn.

Wrong thread, definitely grin

BTW, whats wrong with requesting for a pack of durex in public?
What's with the codedly expected attitude?
A grown up guy for that matter undecided

Condoms are adviced and advertised publicly. W.H.O gives out cartons of it. Stop being archaic

3 Likes

Re: Nigerian Naira And Its Value by manny4life(m): 1:04am On Oct 10, 2013
^^^

I have to disagree with you, I use discretion by ordering from Amazon.com grin grin grin
Re: Nigerian Naira And Its Value by honorsam(m): 1:18am On Oct 10, 2013
Though the naira has had a really bad past which could be attributed to corruption and bad leadership,but it has been showing some improvement and stability lately.What we need is a strong economy which in turn translates to a stable currency.A country's currency is not determined by the strength of its economy alone,thus,relating a country's currency to another at a static period of time is meaningless,the both currencies should be watched over time to come to the conclusion of which is of higher value.Purchasing power and the change in value over time is a very nice indicator to that effect.It is totally wrong to say that the Ghana Cedi for example which exchanges GHS1 for #70 is of higher value than the naira. All hands must be on deck to keep it from falling anymore.

2 Likes

Re: Nigerian Naira And Its Value by honorsam(m): 1:20am On Oct 10, 2013
ms_ogey: You are very silly. Smh. That's how I was at d supermarket today to buy some hair products and while at the counter, d guy infront of me requested a pack of durex. He didn't even do it codedly. I just looked at the guy with scorn. angryYou are very silly. Smh. That's how I was at d supermarket today to buy some hair products and while at the counter, d guy infront of me requested a pack of durex. He didn't even do it codedly. I just looked at the guy with scorn.
and how does this affect the value of naira
Re: Nigerian Naira And Its Value by honorsam(m): 1:24am On Oct 10, 2013
sкчscrαρεr™:
qone are those days when i used to buy...

bread for 10n now 60n.
a bottle of coke for 20n.
abacha cap (snack) five each for 5n etc.

i won`t forqet coins. my dad used to qive me 10n to school everyday which consists coins and sometimes kobo. the funny part is that i will used the money to feed myself and my neiqhbour whom parents doesn`t qive him any money to school and we`ll be over-fed. sometimes i have to scrape the sides of the coin on a sharp floor to make it shiny because the seller miqht not accept it from me if it is rusty. i also would not forqet baba that used to 'dash' us' coins whenever we qo to dance for him at home. (may his soul rest in peace). also, i would not forqet when me and my partners in crime lipsrsealed used to qo to the several three junctions around my crib to pick coins from 'uzobo' (a bini word meaninq fetish sacrifice). why did i centered more on coins?! that's because it`s no lonqer in existence, soon enouqh the 5n will also phases out.
not too lonq aqo there was a thread here on nairaland askinq when was the last time we had 5naira in the wallet https://www.nairaland.com/1439168/when-last-time-n5-wallet that is suppose to be a denomination of a country.
i remember the niqeria currency once had more value than the qhana cedi but today the reverse is the case.
Naija, i hail thee!
naira is worth more than the Cedi bro..
Re: Nigerian Naira And Its Value by Nobody: 1:31am On Oct 10, 2013
The naira should certainly be strengthened because Naija isn't yet a major manufacturing country. Countries such as China and Japan only devalued their currencies because they had a surplus of manufactured goods, and had to make their exports cheaper in the int'l market.

1 Like

Re: Nigerian Naira And Its Value by sholay2011(m): 1:37am On Oct 10, 2013
Hmmmmm.

I like this thread; but it should have been preferably started by a more knowledgeable person (probably an economist undecided) that would elucidate on the causes of the devaluation of the naira and ways this trend could be reversed. And not that nairalanders would barge in as usual shouting "corruption" and "GEJ" as the direct causes of this menace.

I don't mean to berate the effort of the OP (kudos instead; at least this is better than Tonto Dike threads grin) but this is a very sensitive issue that if well-discussed, may spur young minds to go into entrepreneurship where production is increased and
eventually, exports would exceed imports and Nigeria would have comparative advantage in many products.

Kudos to those that have shared the little they know with us on this thread. Naija has no choice than to get better!

2 Likes

Re: Nigerian Naira And Its Value by Chrisabig(m): 2:06am On Oct 10, 2013
moshino:

[b]You have too much Naira chasing too few dollars. The only thing you export to earn Dollars is oil. You have huge balance of trade deficit. You have dilapidated/non-existent infrastructure. You do not attract enough foreign investment because of MASSIVE corruption, insecurity, failed educational system that do not provide developed manpower, you waste too much austere capital on ostentatious living rather than on capital investment. And the Nigerian masses rather than DEMAND accountability from their government officials, you worship and hail them after they have stolen you blind and built obscene mansions for themselves, and bought big cars, all with your commonwealth. The problem is YOU, the Nigerian masses, you have NO clue, and you are too docile. You demand NOTHING from your leaders while you call them rulers. They know you are easily satisfied, fooled and distracted, they know you do NOT have the nerve and guts to do anything, so they keep screwing over and over and over again. It will continue until you wake up andstand for your rights.[/b]

1 Like

Re: Nigerian Naira And Its Value by wine4dguy: 2:38am On Oct 10, 2013
whoever is deceiving Nigerians (nairalanders) that the Ghana cedis is better than the naira is telling a BIG LIE check your economics well..
Re: Nigerian Naira And Its Value by eightsin(m): 3:39am On Oct 10, 2013
There was a time (i think last year) i almost thought Nigeria has started using dollars because every project and contract were being awarded in dollars n nt Naira on TV n newspapers.
I also think Sanusi some time last week said our Bureau de change are purchasing too much dollars without proper documentation.
Re: Nigerian Naira And Its Value by hrhobi1(m): 4:55am On Oct 10, 2013
Oya everybody. Arise O compatriots, Nigeria's call obey , Oya continue, its a new day go out and grab all the naira u can no time for conversion talks.
Re: Nigerian Naira And Its Value by Exponental(m): 5:33am On Oct 10, 2013
New notes and value are 2 different independent factors about d currency.
Re: Nigerian Naira And Its Value by PassingShot(m): 5:38am On Oct 10, 2013
shegsrules: Ask ibb, cus na tenure our money drop value

Yes, IBB contributed to the downward trend of Nigerian economy but it started way before his time. I say ask Shagari. It was in the 2nd Republic that the trouble dtarted. A simple reaserch will help here bros.
Re: Nigerian Naira And Its Value by Nobody: 6:17am On Oct 10, 2013
ojdollars:


@amaboss ... You have a valid point, but what happened if you write the Dailies, Channel TV, Vanguard to get your point across to where it needs to really get to? I mean, na so Foreign people they do am naaaa..
Thank you for your Patriotic concern...
FYI, those dailies, often come to nairaland to get "bits" for their stories and editorials! (The nice ones do quote) others just say "independent sources, who don't want their name in print"


@topic, I believe a strong currency is dependent on "how plenty you dey sell, and how small you dey buy"

CBN, september don pass o, what are these polymers still doing here?
Re: Nigerian Naira And Its Value by crackhaus: 6:17am On Oct 10, 2013
moshino:

[b]You have too much Naira chasing too few dollars. The only thing you export to earn Dollars is oil. You have huge balance of trade deficit. You have dilapidated/non-existent infrastructure. You do not attract enough foreign investment because of MASSIVE corruption, insecurity, failed educational system that do not provide developed manpower, you waste too much austere capital on ostentatious living rather than on capital investment. And the Nigerian masses rather than DEMAND accountability from their government officials, you worship and hail them after they have stolen you blind and built obscene mansions for themselves, and bought big cars, all with your commonwealth. The problem is YOU, the Nigerian masses, you have NO clue, and you are too docile. You demand NOTHING from your leaders while you call them rulers. They know you are easily satisfied, fooled and distracted, they know you do NOT have the nerve and guts to do anything, so they keep screwing you over and over and over again. It will continue until you wake up and stand up for your rights.[/b]
You try sha
Re: Nigerian Naira And Its Value by atpet(m): 6:19am On Oct 10, 2013
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Re: Nigerian Naira And Its Value by sCun: 7:04am On Oct 10, 2013
honorsam: naira is worth more than the Cedi bro..
Leave the guy, he probably hasn't heard of redenomination. People just spread ignorance here.
Re: Nigerian Naira And Its Value by dadamuyiwa: 7:38am On Oct 10, 2013
Tell your leaders to start trading crude oil in Naira instead of Dollar. Dubai, Oman,Abu Dhabi etc are doing it and has made these small emirates currencies higher than dollar in value.
Re: Nigerian Naira And Its Value by Youngmon3Y(m): 7:52am On Oct 10, 2013
moschino said it all,revolution hanging at d korner,when$who is to lead us
Re: Nigerian Naira And Its Value by zolajpower: 8:06am On Oct 10, 2013
ms_ogey: You are very silly. Smh. That's how I was at d supermarket today to buy some hair products and while at the counter, d guy infront of me requested a pack of durex. He didn't even do it codedly. I just looked at the guy with scorn. angryYou are very silly. Smh. That's how I was at d supermarket today to buy some hair products and while at the counter, d guy infront of me requested a pack of durex. He didn't even do it codedly. I just looked at the guy with scorn.
when u are high wth a lot of kwale wee... Dis is wht u get going of key when odas are going d rite way. Wetin concern durex wth devaluation of our currency thread?
Re: Nigerian Naira And Its Value by Chinwem(f): 8:09am On Oct 10, 2013
aguiyi: seriously, op
you have not said anything. i expected to see list of ways to hand the note or ways of increasing our export thereby adding value to the Naira lipsrsealed

This is a forum not a primary 1 classroom . The Op is not required to 'say anything' but bring up a topic that generates a discussion with like minds and not sit people down and spoon feed their urge for didactic learning.
Re: Nigerian Naira And Its Value by Abbey2sam(m): 8:34am On Oct 10, 2013
amaboss: From time to time, new Naira notes are pumped into the economy, billions of money spent to improve the face of the Naira notes but little attention paid to how to improve the value of the Naira notes. Someone said "Beauty comes from within." The real beauty of the Naira note is not gotten from improving the face. You treasure what you value, so long as the Naira is not valued, new notes will be pumped to persuade people to treasure it.

There was a time Nigeria's currency had the same value as the US Dollar, if not higher. Where did all that go to? Was it not the same Nigerians that handled the economy of Nigeria back then that make it possible? How then is it possible that the Dollar is now over a hundred and fifty times more valued than the Nigerian Naira? Are aliens now controlling our economy? Where we talk of releasing new Naira notes, we should be talking of improving the value of the Naira. Let us all go back to the drawing board and correct where we all got it wrong. There is still hope for the Nigerian Naira.

And this made the front page,
The op didn't say anything reasonable or what we don't already know

1 Like

Re: Nigerian Naira And Its Value by Lawrence14: 8:47am On Oct 10, 2013
hmmmm.......... d damage is done already.its up 2 dem 2 change d course of deir game.
Re: Nigerian Naira And Its Value by patostation(m): 8:50am On Oct 10, 2013
At least the Naira is still better than the Zimbabwean Dollar. 1USD = Zim Dollars 5,000; bottle of coke = 0.5 Million Zim Dollars. In Mugabe's Zimbabwe, everyone is a millionaire.

1 Like

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