NIGERIAN NAIRA FAST BECOMING THE WEAKEST CURRENCY IN AFRICA....

South Africa: Rand 1= 79 Naira
Angola: 1 kwanza = 12 Naira
Botswana: 1 Pula = 28 Naira
Cape Verde: 1 Escudo = 8 Naira
Algeria: 1 Dinar = 12 Naira
Egypt: 1 Pound = 35 Naira
Eritrea: 1 Nakata = 18 Naira
Ethiopia: 1 Birr = 19 Naira
Ghana: 1 Cedi = 56 Naira
Gambia 1 Dalasi = 9 Naira
Kenya: 1 shilling = 6 Naira
Liberia: 1 Dinar = 8 Naira
Lesotho: 1 Loti = 19 Naira
Libya: 1 Dinar = 156 Naira
Morocco: 1 Dirham = 176 Naira
Madagascar: 1 Ariary = 14 Naira
Mauritius: 1 Rupee = 16 Naira
Malawi: 1 kwacha = 21 Naira
Mozambique: 1 Metical = 24 Naira
Namibia: 1 Dollar = 32 Naira
Seychelles: 1 Rupee = 22 Naira
Sudan: 1 pound = 42 Naira
Swaziland: 1 Lilangeri = 19 Naira
Tunisia: 1 Dinar = 150 Naira
Zambia: 1 kwacha = 28 Naira
Even the worst economies of Africa now have more valuable Exchange rate than us.
As at today $1 = N370
€1 = N450
£1 =N540
N1,000,000 is less than $4000.
...and some think that we have not reached the breakpoint?
Putin (Russia): Lawyer
Trump (America): Economics degree
Merkel (Germany): PhD physical chemistry
Xi Jinping (China): Chemical engineering and Doctor of Law
Buhari (Nigeria): WAEC not found
Yet, somebody wants a growing economy under this administration we re just playing is time to say Goodbye if we must tell ourselves the truth this country can't be Giant of Africa again.

Sharaaaaaap there. If you dey vex go and protest.
The time you used to research and type this, it will reach you to wear shirt and enter street with camera. The last election did you even vote?

Currency is really not a determinant to strong economy.
Take South Korea, Japan, Vietnam as examples. Infact it's encouraged that countries should devalue their currencies and this is why China devalued Yuan. Devaluing Currency may seem counter-intuitive, but a strong currency is not necessarily in a nation's best interests. A weak domestic currency makes a nation's exports more competitive in global markets, and makes imports more expensive. It also boosts exports, shrink trade deficits and reduces sovereign wealth bondage. In quote weak currency is an advantage to any country willing to export more than imports. Just my view

usamali:
NIGERIAN NAIRA FAST BECOMING THE WEAKEST CURRENCY IN AFRICA....

South Africa: Rand 1= 79 Naira
Angola: 1 kwanza = 12 Naira
Botswana: 1 Pula = 28 Naira
Cape Verde: 1 Escudo = 8 Naira
Algeria: 1 Dinar = 12 Naira
Egypt: 1 Pound = 35 Naira
Eritrea: 1 Nakata = 18 Naira
Ethiopia: 1 Birr = 19 Naira
Ghana: 1 Cedi = 56 Naira
Gambia 1 Dalasi = 9 Naira
Kenya: 1 shilling = 6 Naira
Liberia: 1 Dinar = 8 Naira
Lesotho: 1 Loti = 19 Naira
Libya: 1 Dinar = 156 Naira
Morocco: 1 Dirham = 176 Naira
Madagascar: 1 Ariary = 14 Naira
Mauritius: 1 Rupee = 16 Naira
Malawi: 1 kwacha = 21 Naira
Mozambique: 1 Metical = 24 Naira
Namibia: 1 Dollar = 32 Naira
Seychelles: 1 Rupee = 22 Naira
Sudan: 1 pound = 42 Naira
Swaziland: 1 Lilangeri = 19 Naira
Tunisia: 1 Dinar = 150 Naira
Zambia: 1 kwacha = 28 Naira
Even the worst economies of Africa now have more valuable Exchange rate than us.
As at today $1 = N370
€1 = N450
£1 =N540
N1,000,000 is less than $4000.
...and some think that we have not reached the breakpoint?
Putin (Russia): Lawyer
Trump (America): Economics degree
Merkel (Germany): PhD physical chemistry
Xi Jinping (China): Chemical engineering and Doctor of Law
Buhari (Nigeria): WAEC not found
Yet, somebody wants a growing economy under this administration we re just playing is time to say Goodbye if we must tell ourselves the truth this country can't be Giant of Africa again.

U have done ur best to educate us on the comparative strength of our Naira. The next question is the data analysed credible worth or not. yes it is. The impact of poor leadership and forsight is one since 1960 to date.

ffd

The present administration is a big mistake

Cutealexio:
Currency is really not a determinant to strong economy.
Take South Korea, Japan, Vietnam as examples. Infact it's encouraged that countries should devalue their currencies and this is why China devalued Yuan. Devaluing Currency may seem counter-intuitive, but a strong currency is not necessarily in a nation's best interests. A weak domestic currency makes a nation's exports more competitive in global markets, and makes imports more expensive. It also boosts exports, shrink trade deficits and reduces sovereign wealth bondage. In quote weak currency is an advantage to any country willing to export more than imports. Just my view

after your long epistle you still shot yourself in the leg with the last two lines of your post. Since nigeria imports a whole lot more than we export what is your solution to that?

By the time we Biafrans have our nation 1 Biafran pound will be 350 naira

Nigerians with the medicine after death syndrome, when the former president was spending money anyhow, the former central bank governor and former minister of finance ngozi okonjo were both shouting that it is dangerous that we may slide into recession, shebi everybody kept mum and no one told the truth, now that the repercussion I snow biting both the guilty and the innocent you are now comparing us with other countries.

Lemme ask you, when Nigerians were spending free money that they did not work for, was it the other African countries that collected it from them? So don't bring any comparison here, we caused our problems, if we suffer the consequences there is no big issue there!!!

I wonder if this is how you talk to people in real life or you only talk like this behind your keyboard. Well, since Nigeria is trying to reduce Imports and increase exports then this is a good choice. China for example was a really poor country but they managed to lift themself out of poverty by industrialization. This present government is more focused on agriculture just like most European countries and Australia. Nigeria has a good land and high population of youths so if the government creates an enabling environment for agriculture then we will have enough to export to other countries NB the last line you made reference to, you can see I used the word "WILLING"

izombie:
after your long epistle you still shot yourself in the leg with the last two lines of your post. Since nigeria imports a whole lot more than we export what is your solution to that?

Cutealexio:
I wonder if this is how you talk to people in real life or you only talk like this behind your keyboard. Well, since Nigeria is trying to reduce Imports and increase exports then this is a good choice. China for example was a really poor country but they managed to lift themself out of poverty by industrialization. This present government is more focused on agriculture just like most European countries and Australia. Nigeria has a good land and high population of youths so if the government creates an enabling environment for agriculture then we will have enough to export to other countries

i didn't mean to be rude bro.
Anyways, your analysis up here makes sense.

One love my Brother

izombie:
i didn't mean to be rude bro.
Anyways, your analysis up here makes sense.

Maura to pounds is now 427, actually d Naija is aging strength from d free fall of 2015 when it hit 650 to the pound.

Cutealexio:
Currency is really not a determinant to strong economy.
Take South Korea, Japan, Vietnam as examples. Infact it's encouraged that countries should devalue their currencies and this is why China devalued Yuan. Devaluing Currency may seem counter-intuitive, but a strong currency is not necessarily in a nation's best interests. A weak domestic currency makes a nation's exports more competitive in global markets, and makes imports more expensive. It also boosts exports, shrink trade deficits and reduces sovereign wealth bondage. In quote weak currency is an advantage to any country willing to export more than imports. Just my view

So is Nigeria a strong economy? Please keep quiet

Ask your english teacher for a refund

FarahAideed:



So is Nigeria a strong economy? Please keep quiet

Cutealexio:
Ask your english teacher for a refund

Answer my question or keep quiet . Nonsense talk , don't come here and start trying to subtly support Buhari while pretending you are trying to make sense ..Only a wicked sadist will support such a failed govt

usamali:
NIGERIAN NAIRA FAST BECOMING THE WEAKEST CURRENCY IN AFRICA....

South Africa: Rand 1= 79 Naira
Angola: 1 kwanza = 12 Naira
Botswana: 1 Pula = 28 Naira
Cape Verde: 1 Escudo = 8 Naira
Algeria: 1 Dinar = 12 Naira
Egypt: 1 Pound = 35 Naira
Eritrea: 1 Nakata = 18 Naira
Ethiopia: 1 Birr = 19 Naira
Ghana: 1 Cedi = 56 Naira
Gambia 1 Dalasi = 9 Naira
Kenya: 1 shilling = 6 Naira
Liberia: 1 Dinar = 8 Naira
Lesotho: 1 Loti = 19 Naira
Libya: 1 Dinar = 156 Naira
Morocco: 1 Dirham = 176 Naira
Madagascar: 1 Ariary = 14 Naira
Mauritius: 1 Rupee = 16 Naira
Malawi: 1 kwacha = 21 Naira
Mozambique: 1 Metical = 24 Naira
Namibia: 1 Dollar = 32 Naira
Seychelles: 1 Rupee = 22 Naira
Sudan: 1 pound = 42 Naira
Swaziland: 1 Lilangeri = 19 Naira
Tunisia: 1 Dinar = 150 Naira
Zambia: 1 kwacha = 28 Naira
Even the worst economies of Africa now have more valuable Exchange rate than us.
As at today $1 = N370
€1 = N450
£1 =N540
N1,000,000 is less than $4000.
...and some think that we have not reached the breakpoint?
Putin (Russia): Lawyer
Trump (America): Economics degree
Merkel (Germany): PhD physical chemistry
Xi Jinping (China): Chemical engineering and Doctor of Law
Buhari (Nigeria): WAEC not found
Yet, somebody wants a growing economy under this administration we re just playing is time to say Goodbye if we must tell ourselves the truth this country can't be Giant of Africa again.

OP the big question for you is......can 1 ghana cedi buy what 56 naira can buy? if your answer is NO.....go and sleep ,jare!

Cutealexio:
Currency is really not a determinant to strong economy.
Take South Korea, Japan, Vietnam as examples. Infact it's encouraged that countries should devalue their currencies and this is why China devalued Yuan. Devaluing Currency may seem counter-intuitive, but a strong currency is not necessarily in a nation's best interests. A weak domestic currency makes a nation's exports more competitive in global markets, and makes imports more expensive. It also boosts exports, shrink trade deficits and reduces sovereign wealth bondage. In quote weak currency is an advantage to any country willing to export more than imports. Just my view

Your view makes no sense.

The Nigerian naira is collapsing as a result incompetence, useless leadership and and a weak economy not because of a deliberate policies aimed at encouraging exports. There is no economic theory that says the currency must be s.hit just to support export policy. The UK, US, South Africa, China, Russia, South Korea, UAE, Cote D'Ivore amongst others, are exporters.

The only currency we're currently competing with now is, the Zimbabwean dollar.

usamali:
NIGERIAN NAIRA FAST BECOMING THE WEAKEST CURRENCY IN AFRICA....

South Africa: Rand 1= 79 Naira
Angola: 1 kwanza = 12 Naira
Botswana: 1 Pula = 28 Naira
Cape Verde: 1 Escudo = 8 Naira
Algeria: 1 Dinar = 12 Naira
Egypt: 1 Pound = 35 Naira
Eritrea: 1 Nakata = 18 Naira
Ethiopia: 1 Birr = 19 Naira
Ghana: 1 Cedi = 56 Naira
Gambia 1 Dalasi = 9 Naira
Kenya: 1 shilling = 6 Naira
Liberia: 1 Dinar = 8 Naira
Lesotho: 1 Loti = 19 Naira
Libya: 1 Dinar = 156 Naira
Morocco: 1 Dirham = 176 Naira
Madagascar: 1 Ariary = 14 Naira
Mauritius: 1 Rupee = 16 Naira
Malawi: 1 kwacha = 21 Naira
Mozambique: 1 Metical = 24 Naira
Namibia: 1 Dollar = 32 Naira
Seychelles: 1 Rupee = 22 Naira
Sudan: 1 pound = 42 Naira
Swaziland: 1 Lilangeri = 19 Naira
Tunisia: 1 Dinar = 150 Naira
Zambia: 1 kwacha = 28 Naira
Even the worst economies of Africa now have more valuable Exchange rate than us.
As at today $1 = N370
€1 = N450
£1 =N540
N1,000,000 is less than $4000.
...and some think that we have not reached the breakpoint?
Putin (Russia): Lawyer
Trump (America): Economics degree
Merkel (Germany): PhD physical chemistry
Xi Jinping (China): Chemical engineering and Doctor of Law
Buhari (Nigeria): WAEC not found
Yet, somebody wants a growing economy under this administration we re just playing is time to say Goodbye if we must tell ourselves the truth this country can't be Giant of Africa again.

nawaooooo on next lefu government.

Cutealexio:
Currency is really not a determinant to strong economy.
Take South Korea, Japan, Vietnam as examples. Infact it's encouraged that countries should devalue their currencies and this is why China devalued Yuan. Devaluing Currency may seem counter-intuitive, but a strong currency is not necessarily in a nation's best interests. A weak domestic currency makes a nation's exports more competitive in global markets, and makes imports more expensive. It also boosts exports, shrink trade deficits and reduces sovereign wealth bondage. In quote weak currency is an advantage to any country willing to export more than imports. Just my view

Right you are! Unfortunately, our export activities are more or less concentrated on crude oil. And even that is fraught with massive fraud against the Nigerian people.

caprini1:
OP the big question for you is......can 1 ghana cedi buy what 56 naira can buy? if your answer is NO.....go and sleep ,jare!

so all this countries only Ghana you saw there....what do Nigerians want from Ghana?

wizzzmike:


so all this countries only Ghana you saw there....what do Nigerians want from Ghana?

Closest country of comparison and similarity,thats all.

Cameroon, Benin, nigeri and Togo are closer to Nigeria than Ghana. Similarity? There is nothing similar between Ghana and Nigeria, perhaps apart from the unfortunate factor of both being colonized by Britain.

caprini1:
Closest country of comparison and similarity,thats all.

PetroDollaxxxx:
Cameroon, Benin, nigeri and Togo are closer to Nigeria than Ghana. Similarity? There is nothing similar between Ghana and Nigeria, perhaps apart from the unfortunate factor of both being colonized by Britain.

Ok.

I support Buhari in areas of infrastructural developments,I don't support Buhari in areas of Security,
I support Buhari in areas of Agriculture, I don't support Buhari in areas of Human rights policies, I support Buhari in fight against corruption, I don't support Buhari in terms of Foreign affairs. Bro, I ain't partisan and if I am then I have right to who I choose to support or not to support.

FarahAideed:


Answer my question or keep quiet . Nonsense talk , don't come here and start trying to subtly support Buhari while pretending you are trying to make sense ..Only a wicked sadist will support such a failed govt

What do you mean when you said there's no economic theory that supports that? DEVALUATION itself is a monetary policy. I agree that in Nigeria's case it wasn't intentional but it can still be used to our advantage.
As far as I'm concerned UK and South Africa are not secondary exporters. You made mention of South Korean do you know 1,000 naira is 3,000 won? What does UAE has to export apart from crude oil?

IamaNigerianGuy:


Your view makes no sense.

The Nigerian naira is collapsing as a result incompetence, useless leadership and and a weak economy not because of a deliberate policies aimed at encouraging exports. There is no economic theory that says the currency must be s.hit just to support export policy. The UK, US, South Africa, China, Russia, South Korea, UAE, Cote D'Ivore amongst others, are exporters.

Exactly, the economy needs to be diversified

olisaEze:


Right you are! Unfortunately, our export activities are more or less concentrated on crude oil. And even that is fraught with massive fraud against the Nigerian people.

Cutealexio:
I support Buhari in areas of infrastructural developments,I don't support Buhari in areas of Security,
I support Buhari in areas of Agriculture, I don't support Buhari in areas of Human rights policies, I support Buhari in fight against corruption, I don't support Buhari in terms of Foreign affairs. Bro, I ain't partisan and if I am then I have right to who I choose to support or not to support.

Why don't you name one infrastructure Buhari had developed?

CBN was best under Soludo And has policy in place to stabilize the naira

caprini1:
OP the big question for you is......can 1 ghana cedi buy what 56 naira can buy? if your answer is NO.....go and sleep ,jare!

Where I live, 56naira can't buy anything oo

caprini1:
OP the big question for you is......can 1 ghana cedi buy what 56 naira can buy? if your answer is NO.....go and sleep ,jare!

can $1 buy what 400 naira can buy?
if your answer is no ...go and sleep