Childofaking:

You can stop chasing dollar rates if you are producing all you consume here, but we produce close to nothing. Even some food are imported.

You're not the only nation producing close to nothing. If you want a favorable dollar rate, stop chasing dollar rate. That's what sane nations do. Nigeria will remain backwards until Nigerians stop chasing and start leading.

Built2last:
Will Nigerians actually have a higher purchasing power, looking at the commodity price index and inflation in the last decade.

Can we say the 30,000 is the best government can offer?

Our Senators and executive members can't even fuel their car with 30k

RETROGRESSION IS THE NAME FOR NIGERIA UNDER PRESIDENT BUHARI PROPPED UP BY A SECTION OF YORUBA.

youghs:
is it dollar dat we are spending...dat estimate is only useful if u want to engage in foreign trade

Why are you so myopic?

All your clothes are imported
Your printing papers that make up your books
Your erasers that kids use in schools
Your phones etc

And you say we don't spend dollars!?

youghs:
is it dollar dat we are spending...dat estimate is only useful if u want to engage in foreign trade

Do u really mean what u posted, or u are one of those social media users paid by the government paid to make noise and distract people from meaningful issues?
A country that depends heavily on importation of both raw materials and finished goods should be gravely concerned about the exchange rate. Why else do u think prices of commodities doubled in the past 4 years?

ariketalks:
It is shameful to see Nigerian youths display this level of illiteracy as seen on this thread. The OP made salient points but the best argument some people's brains can think up is "We spend Naira not Dollars". Buhari was right when he called y'all lazy, and mental laziness is even much worse than physical laziness.
▪We don't use Dollar, but are we self sufficient?
▪Is Naira the world currency?
▪Are prices of commodities the same as they were 5 years ago?
▪Try to purchase stuff online then come back and reiterate this same nonsense.
One thing i will never understand is why some people take it upon themselves to cheer a government that is anti-people and only concerned about their own greedy mouths.

Please make sure to make research b4 coming to justify a pointless post. We all know the Naira and other currencies have devalued. Even the RUSSIAN Ruble that exchanged for 0.035dollars in 2011 now exchanges for 0.015 dollars in 2019.
The OP's points are misleading and we all know it. First , we dont spend dollars in our local markets, we spend naira. For those of us who do online trading , we must have noticed some sort of stability in the naira for the past 9months....infact, the naira just appreciated last week by some 0.03%. It may not look much but when u spend billions, u'll understand its effect.

Go and make reasearch, almost all currencies except (dollar, pound and euro) devalued within d last 3years.

mauriceju2:
It supposed to be between 45000 to 50000 if you take inflation and purchasing power into account, APC = scam/419, Johnathan was a good man, where are the labour union that all most burn Nigeria down during the time of Johnathan? What can a government worker with a family of 4 children plus father and mother making it 6 do with 30000 now?? Corruption is here to stay in Nigeria, how do you think they will train their 4 children to university level without involving in corruption

What was the price of oil then and now? You guys just look at every opportunity to criticize. Back then #1 is =$1... Why because we produce and export goods. Suddenly we diversify to Oil. what's the current price of oil in 2010&2019. When GEJ had the opportunity to build the foreign reserve he was busy looting now the price of oil is down the only sustainable resource we've. Buhari tired to increase the minimum wage . If you're given 30k return the 12k and tell FG that you're a PDP supporter Nonsense.

Is dollars our National currency?
If we decide to be self sufficient, we won't be bothered what the exchange rate is.

kitaatita:


Medium of exchange in Nigeria is the Naira. Why must we convert Everything to the dollar

When i see comments like the one u posted, i weep for our quality of education. Ignorance is the worst master anyone can have.
The ceiling fan sold 2500 naira 4 years ago, is now 6000 naira. That is how inflation and unfavourable exchange rates affects your naira.

youghs:


We imported 13.3tn worth of goods in 2018 while our GDP was about 146tn n u are here telling me dat we consumed about 16tn worth of goods...Try n use ur head at least sometimes

Consumption is just one of about 5 components of the Gdp. I won't go into how Gdp is calculated.
What I am telling you is that more than 70 % of the things you do with your wages are attached to USD.
Did you not know that after the Naira was devalued in 2015, prices of goods responded to it ?
Can you remember that a bag of rice was 7k to 8 k in 2015 before devaluation, it is now about 18k.
Look at the price of cement that we produce here, it was about 1.5k in 2015 and now it about N2.5k. This is because the Naira lost value against the USD and other currencies.

What fool did this?

Why do we equate everything with US dollars?

Why don't you also compare it with Zimbabwean dollars or CFA?

youghs:
is it dollar dat we are spending...dat estimate is only useful if u want to engage in foreign trade

But foreign trade has a direct influence on Nigeria production, purchases and economy.....

If you doubt this point ask yourself this simple questions
When dollar was as low as #150
What was pump ⛽ price?
Inflation rate?
What was the unemployment rate?
standard and cost of living rate

We don't spend dollar but it has a great influence on almost everything in our dependent nation who depends largely on foreign consumables.

youghs:
is it dollar dat we are spending...dat estimate is only useful if u want to engage in foreign trade

You totally wrong how much was fuel ,rice even bread in 2014 compare now

lol

ariketalks:
It is shameful to see Nigerian youths display this level of illiteracy as seen on this thread. The OP made salient points but the best argument some people's brains can think up is "We spend Naira not Dollars". Buhari was right when he called y'all lazy, and mental laziness is even much worse than physical laziness.
▪We don't use Dollar, but are we self sufficient?
▪Is Naira the world currency?
▪Are prices of commodities the same as they were 5 years ago?
▪Try to purchase stuff online then come back and reiterate this same nonsense.
One thing i will never understand is why some people take it upon themselves to cheer a government that is anti-people and only concerned about their own greedy mouths.

Was about saying this

mauriceju2:
It supposed to be between 45000 to 50000 if you take inflation and purchasing power into account, APC = scam/419, Johnathan was a good man, where are the labour union that all most burn Nigeria down during the time of Johnathan? What can a government worker with a family of 4 children plus father and mother making it 6 do with 30000 now?? Corruption is here to stay in Nigeria, how do you think they will train their 4 children to university level without involving in corruption

help me ask the dumb asses..the enemies of our national growth,,the've succeeded in taking us back to 1999,I think they are all happy now..they should state one mistake that Jonathan did that Buhari haven't done 10times yet they kept mute and applaud him..they are celebrating mediocrity,,jubilating over a step that would cause more sufferings....

Another budget padding year.

The biggest scam ever

maxzzo1:

You totally wrong how much was fuel ,rice even bread in 2014 compare now

anonymous1759:




What was the price of oil then and now? You guys just look at every opportunity to criticize. Back then #1 is =$1... Why because we produce and export goods. Suddenly we diversify to Oil. what's the current price of oil in 2010&2019. When GEJ had the opportunity to build the foreign reserve he was busy looting now the price of oil is down the only sustainable resource we've. Buhari tired to increase the minimum wage . If you're given 30k return the 12k and tell FG that you're a PDP supporter Nonsense.

he was busy looting yet he has no private university ,,your Mr integrity his planning to join is colleagues with his..you people keep saying GEJ looted how?? When we start telling ourselves the truth ,,the better for us...

youghs:
is it dollar dat we are spending...dat estimate is only useful if u want to engage in foreign trade

Your argument would have been valid if we produce everything we use in this country.

youghs:
is it dollar dat we are spending...dat estimate is only useful if u want to engage in foreign trade

This one is not learned... If I want to buy TV the cost of tv would be priced at d rate of dollar or Naira?

Nigerian workers add nothing to the economy rather than destroying it.

youghs:
is it dollar dat we are spending...dat estimate is only useful if u want to engage in foreign trade

you don't quote people like this...check out his age..he should be within 18-22 age bracket..but if he is more than.,and still think this way...??hnnnmmm..I rest my case.

Iceness:
Certainly no need to bother about them the workers are even happy that the Pres. approved the 30k stipend(it's definitely to small to call salary) the real amount needed by the lowest staff on board is actually 65k which is still very small but at least is basic.

I agree that under this economy with the current rate of inflation, an average worker should earn nothing less than 60-70k. Otherwise in order to make ends meet, he will have to cut corners. In other words, the situation is still a mess

If Nigeria jihadists unknown police and soldiers at checking points collect 3000k from you, what will you do?

BlackfireX:
The minimum wage should be #5,000 .

Kenturkey048:
he was busy looting yet he has no private university ,,your Mr integrity his planning to join is colleagues with his..you people keep saying GEJ looted how?? When we start telling ourselves the truth ,,the better for us...

Private University is too little for Mr GEJ. Alison Madueke can afford that. You're the one lying to yourself if you think GEJ is a saint. He didn't loot, the foreign reserve was messed up despite the high oil price. Please tell yourself the truth. If Buhari is a thief GEJ is an Armed Robber.

tuniski:

But nobody is saying staff are sad rather, they are making a case for even more increase. Sometimes the oppressed actually protect and hail the oppressor. It is unfortunate!

The guy suffers from Stockholm syndrome!

Budex40:


Please make sure to make research b4 coming to justify a pointless post. We all know the Naira and other currencies have devalued. Even the RUSSIAN Ruble that exchanged for 0.035dollars in 2011 now exchanges for 0.015 dollars in 2019.
The OP's points are misleading and we all know it. First , we dont spend dollars in our local markets, we spend naira. For those of us who do online trading , we must have noticed some sort of stability in the naira for the past 9months....infact, the naira just appreciated last week by some 0.03%. It may not look much but when u spend billions, u'll understand its effect.

Go and make reasearch, almost all currencies except (dollar, pound and euro) devalued within d last 3years.

oga we don't spend dollar in our local markets.but our pricing on local markets are based on the present exchange rate..that's what the argument is all about..the op only meant when the exchange rate was lower than this,minimum wage was above 100dollars,,now that the exchange rate is a bit higher ,minimum wage is not up to 100dollars...everything you buy are priced on dollar rate..even to the extent of people selling palm oil,justifying their hike with exchange increment.

mauriceju2:
It supposed to be between 45000 to 50000 if you take inflation and purchasing power into account, APC = scam/419, Johnathan was a good man, where are the labour union that all most burn Nigeria down during the time of Johnathan? What can a government worker with a family of 4 children plus father and mother making it 6 do with 30000 now?? Corruption is here to stay in Nigeria, how do you think they will train their 4 children to university level without involving in corruption

Children of hate and anger. You are still suffering from post election lost trauma and depression. If you don't watch yourselves, you will develop psychiatric disorders and mental imbalance, then you shall find yourselves nakked at Idumota market.

In 2015, you were trashed at the polls. In 2019, we humiliated you. Come 2023, we shall send you out of Nigeria.

anonymous1759:


Private University is too little for Mr GEJ. Alison Madueke can afford that. You're the one lying to yourself if you think GEJ is a saint. He didn't loot, the foreign reserve was messed up despite the high oil price. Please tell yourself the truth. If Buhari is a thief GEJ is an Armed Robber.

okay sir....i want one thing from you...state one property he acquired during his six years..or explain how he looted for me ....

Kenturkey048:
oga we don't spend dollar in our local markets.but our pricing on local markets are based on the present exchange rate..that's what the argument is all about..the op only meant when the exchange rate was lower than this,minimum wage was above 100dollars,,now that the exchange rate is a bit higher ,minimum wage is not up to 100dollars...everything you buy are priced on dollar rate..even to the extent of people selling palm oil,justifying their hike with exchange increment.

Still doesnt make sense to me. Our Local Markets arent affected by dollar hike, rather they affected by fuel price.Dont let these thieving Traders fool u. The idea of selling a bag of garri for cheaper is evidence. Garri is far cheaper than most staples.Up north , u'd even buy a bag of sweet potatoes for 2k. I still buy meat for #100, #200 here in the North.
In Lagos, i cant buy meat for #300. Na we dey do ourselves

HitSong:
Shut up! Too many olodo for this nairaland

Sorry ooo... Mr Man

Budex40:


Still doesnt make sense to me. Our Local Markets arent affected by dollar hike, rather they affected by fuel price.Dont let these thieving Traders fool u. The idea of selling a bag of garri for cheaper is evidence. Garri is far cheaper than most staples.Up north , u'd even buy a bag of sweet potatoes for 2k. I still buy meat for #100, #200 here in the North.
In Lagos, i cant buy meat for #300. Na we dey do ourselves

okay if you say so...but everything still come down to wetin we dey yan..now u said prices are affected by fuel process..and one of the major determinant of oil pricing na exchange rate...