Freetech:
I think you need to understand dynamics of economy of Nations. Production determined the strength of currency of any country. Nigeria economic production is currently at its lowest ebb because of the problem with crude price. Note, this is our major production.

Any country that find herself in this type of situation must devalue her currency to encourage exportation and discourage importation. Production to meet local need and for export will increase.

In 2007 - 2009 both us and Britain devalue their currency more than 3 time because of recession. Even Ghana you put here had to divide their currency by 1000 to have current value

Finally, this have nothing to do with the quality of life in the country but to encourage production. TURKISH LIRA. IS THE MOST USELESS CURRENCY IN THE WORLD BUT TURKEY HAVE BETTER ECONOMY AND QUALITY OF LIFE THAN ANY OF AFRICAN COUNTRY UP THERE.

The little gain we have in non oil export and rice production wouldn't have Bern NC possible without the ddevaluation.

Zenithpeak:


Naira was even better off usd then.

In 1986/87 it was #1= 4.00USD

In 2017 it is average of #365 to $1


Do not justify mediocrity and bad governance.

Zenithpeak:

I wanted to do an online transaction with an online fashion brand abroad. Of course, I always make sure I check the exchange rate before I place an order, to know how much I would be spending in naira.

As usual, after calculating the exchange rate, what I wanted to get was on the high side. I just became humble and cancelled the transaction.

I started thinking if the disparity between dollar and naira is so insane, what will be the exchange rate of the naira to the currencies of other African countries. I picked 25 random African countries and compared their currencies with the naira.

Before I started my findings, I felt only a few African countries could have stronger currencies than the naira but boy I was shocked and ashamed with what I came up with.

Check out the latest exchange rate of the Nigerian naira compared to some random African countries' currencies.

1. South Africa - 1 Rand = 26.28 Naira

2. Ethiopia - 1 Birr = 13.30 Naira

3. Ghana - 1 Cedi = 81.96 Naira

4. Gambia - 1 Dalasi = 7.60 Naira

5. Kenya - 1 Shilling = 3.48 Naira

6. Liberia - 1 Dinar = 3.05 Naira

7. Swaziland - 1 Lilangeni = 26.55 Naira

8. Tunisia - 1 Dinar = 145.90 Naira

9. Zambia - 1 kwacha = 36.7 Naira

10. Angola - 1 kwanza = 2.17 Naira

11. Lesotho - 1 Loti = 26.55 Naira

12. Libya - 1 Dinar = 262.77 Naira

13. Morrocco - 1 Dirham = 38.32 Naira

14. Madagascar - 1 Ariary = 0.12 Naira

15. Mauritius - 1 Rupee = 10.5 Naira

16. Malawi - 1 kwacha = 0.50 Naira

17. Mozambique - 1 Metical = 5.8Naira

18. Namibia - 1 Dollar = 26.55 Naira

19. Seychelles - 1 Rupee = 26.38 Naira

20. Sudan - 1 pound = 53.89 Naira

21. Botswana - 1 Pula = 34.60 Naira

22. Cape Verde - 1 Escudo = 3.82 Naira

23. Algeria - 1 Dinar = 3.18 Naira

24. Egypt - 1 Pound = 20.45 Naira

25. Eritrea - 1 Nakata = 23.52 Naira

The currencies of some worse economies in Africa have better value than the naira.

So the question is - Do you think Nigeria's naira is the weakest currency in Africa and the world at large and what is the way forward to strengthen the naira.

Share your thoughts and comments

https://amp.pulse.ng/lifestyle/money/the-disparity-between-naira-and-other-african-currency-id7448703.html

Just30:
you just need one cedi to get a coke
While a 1kg bread will cost you 2 cedi in Ghana
It cost 365N in Nigeria

shervydman:

ur thinking is that monetary value is amount u get in comparison with other currencies. its wrong.

monetary value is the value of what u can buy with a little amount of money.

ENDTIMEgist:


if by 1kg loaf of bread you mean the standard size *I don't have an idea of what 1kg loaf of bread looks like
Perhaps bread might be cheaper here in Nigeria, because those standard size sells from 200N to 300N but 250N in most environs sha.

reply needed

Dee60:
Complete show of ignorance.

This is how many Nigerians assume they are experts in Economics.

The value of your currency is not measured by the figure it exchanges against other currencies but what it can buy.

300 Naira can buy you a loaf of bread in Nigeria but can 10 Kenyan shillings buy you that same loaf?

When you change that money what can it buy? That is the true value. Your nominal value does not mean much.

Kog45:
1 cedi is for Pepsi but coke my guy 350 naira

shervydman:

ur thinking is that monetary value is amount u get in comparison with other currencies. its wrong.

monetary value is the value of what u can buy with a little amount of money.

Pavore9:


Bread is cheaper in Kenya as wheat and milk costs less. I buy a litre of fresh pasteurized milk for N240 and a kilo of wheat to take along with soups for N205.

Zenithpeak:

I wanted to do an online transaction with an online fashion brand abroad. Of course, I always make sure I check the exchange rate before I place an order, to know how much I would be spending in naira.

As usual, after calculating the exchange rate, what I wanted to get was on the high side. I just became humble and cancelled the transaction.

I started thinking if the disparity between dollar and naira is so insane, what will be the exchange rate of the naira to the currencies of other African countries. I picked 25 random African countries and compared their currencies with the naira.

Before I started my findings, I felt only a few African countries could have stronger currencies than the naira but boy I was shocked and ashamed with what I came up with.

Check out the latest exchange rate of the Nigerian naira compared to some random African countries' currencies.

1. South Africa - 1 Rand = 26.28 Naira

2. Ethiopia - 1 Birr = 13.30 Naira

3. Ghana - 1 Cedi = 81.96 Naira

4. Gambia - 1 Dalasi = 7.60 Naira

5. Kenya - 1 Shilling = 3.48 Naira

6. Liberia - 1 Dinar = 3.05 Naira

7. Swaziland - 1 Lilangeni = 26.55 Naira

8. Tunisia - 1 Dinar = 145.90 Naira

9. Zambia - 1 kwacha = 36.7 Naira

10. Angola - 1 kwanza = 2.17 Naira

11. Lesotho - 1 Loti = 26.55 Naira

12. Libya - 1 Dinar = 262.77 Naira

13. Morrocco - 1 Dirham = 38.32 Naira

14. Madagascar - 1 Ariary = 0.12 Naira

15. Mauritius - 1 Rupee = 10.5 Naira

16. Malawi - 1 kwacha = 0.50 Naira

17. Mozambique - 1 Metical = 5.8Naira

18. Namibia - 1 Dollar = 26.55 Naira

19. Seychelles - 1 Rupee = 26.38 Naira

20. Sudan - 1 pound = 53.89 Naira

21. Botswana - 1 Pula = 34.60 Naira

22. Cape Verde - 1 Escudo = 3.82 Naira

23. Algeria - 1 Dinar = 3.18 Naira

24. Egypt - 1 Pound = 20.45 Naira

25. Eritrea - 1 Nakata = 23.52 Naira

The currencies of some worse economies in Africa have better value than the naira.

So the question is - Do you think Nigeria's naira is the weakest currency in Africa and the world at large and what is the way forward to strengthen the naira.

Share your thoughts and comments

https://amp.pulse.ng/lifestyle/money/the-disparity-between-naira-and-other-african-currency-id7448703.html

Zenithpeak:

I wanted to do an online transaction with an online fashion brand abroad. Of course, I always make sure I check the exchange rate before I place an order, to know how much I would be spending in naira.

As usual, after calculating the exchange rate, what I wanted to get was on the high side. I just became humble and cancelled the transaction.

I started thinking if the disparity between dollar and naira is so insane, what will be the exchange rate of the naira to the currencies of other African countries. I picked 25 random African countries and compared their currencies with the naira.

Before I started my findings, I felt only a few African countries could have stronger currencies than the naira but boy I was shocked and ashamed with what I came up with.

Check out the latest exchange rate of the Nigerian naira compared to some random African countries' currencies.

1. South Africa - 1 Rand = 26.28 Naira

2. Ethiopia - 1 Birr = 13.30 Naira

3. Ghana - 1 Cedi = 81.96 Naira

4. Gambia - 1 Dalasi = 7.60 Naira

5. Kenya - 1 Shilling = 3.48 Naira

6. Liberia - 1 Dinar = 3.05 Naira

7. Swaziland - 1 Lilangeni = 26.55 Naira

8. Tunisia - 1 Dinar = 145.90 Naira

9. Zambia - 1 kwacha = 36.7 Naira

10. Angola - 1 kwanza = 2.17 Naira

11. Lesotho - 1 Loti = 26.55 Naira

12. Libya - 1 Dinar = 262.77 Naira

13. Morrocco - 1 Dirham = 38.32 Naira

14. Madagascar - 1 Ariary = 0.12 Naira

15. Mauritius - 1 Rupee = 10.5 Naira

16. Malawi - 1 kwacha = 0.50 Naira

17. Mozambique - 1 Metical = 5.8Naira

18. Namibia - 1 Dollar = 26.55 Naira

19. Seychelles - 1 Rupee = 26.38 Naira

20. Sudan - 1 pound = 53.89 Naira

21. Botswana - 1 Pula = 34.60 Naira

22. Cape Verde - 1 Escudo = 3.82 Naira

23. Algeria - 1 Dinar = 3.18 Naira

24. Egypt - 1 Pound = 20.45 Naira

25. Eritrea - 1 Nakata = 23.52 Naira

The currencies of some worse economies in Africa have better value than the naira.

So the question is - Do you think Nigeria's naira is the weakest currency in Africa and the world at large and what is the way forward to strengthen the naira.

Share your thoughts and comments

https://amp.pulse.ng/lifestyle/money/the-disparity-between-naira-and-other-african-currency-id7448703.html

NwaAmaikpe:


The Naira is amongst the most worthless currencies in the world... All thanks to Buhari.
Yet girls will still run after it.

The picture below describes what the naira is;
A bloody footmat

CocoaOla:
ny brother is a cleaner in libya when he converts is little monthly pay to naira it amounts NGN600000 naira Nigerian are mumu your naira is shits

Afam4eva:
The last time i was in Mauritius it was 1 naira to 5 rupees and now, it's 1 to 10. Are we trying to compete with Zimbabwean dollars?

CocoaOla:
ny brother is a cleaner in libya when he converts is little monthly pay to naira it amounts NGN600000 naira Nigerian are mumu your naira is shits

Trendishine:
even sudan, dat had been at war?.....n many of u ediots are talking about 2019 election and zoning...ediots...una never know una problem yet....tear-up the gaddam contraption, tear up d evil business scam of heartless and visionless nigerian politicians and makaranta politicians from right, left ,CENTER , who are Under the possession of a very demonic Persian evil .. n take power by the people/masses/numbers, give all protectorate/region its on sense of belonging and responsibility as it has been of the old, and let all region have it own government and parliament as the very British dat colonised this crazy contraption practise, but are not pushing on this government the truth because of the vampires, selfish and barbaric goons u have as politicians in bad government....let all region be a stirrer of their own fate.. no region wld refuse, not even the north, its the demonic politicians who dont want dat, n dnt wanna forfeit their criminal exploitating positions in government, fanning groups and claiming to speak for the very people they oppress,....if not. why do they have boko-haram? y is it winning the interest of most of its fighters? DISCONTENTMENT NIGGERS..!!, Anger , hatred for their political elites of the north..that has reduced them to ash dusty destitutes/ almajiris...dsame thing virtually all this dickheads(from d north) , who occupy a huge number of positions in dis country are wanting to turn nigeria into..a dusty northern cesspit...as they gallivant in looting spree....n u think this rubbish this ediots have been promising to fix since dodan barracks, the asssholes would fix by 2019?, wether apc or pdp?...if you all jokers dont start talking of a dismemberment, heavy entirely overhauled fragmentation/restructure to regional government, or entire harmless break-out,... you all, especially d south, are on a veeeerrrrrryyyy loooooong thing, trust me...una wan carry power give back to dis ediot politicians,...una dey craze,all of una.....una mumu neva do.....scatter the center of shambolic government /highway robbers in offices and bring the power close to the people in their region. let us fight our politicians at home,write our own constitution and chose, in vote, our desired style of governance and experience real citizenry...all this are in d hands of we, you ,the people...the kingdom suffereth violence for too long, and only the violent taketh it by force..if una dey wait for these rouge mouth politicians, wey we dey see today,don dey see since, una mumu neva do....things has fallen apart,.. n now, no part of the center can ever hold..i tot of buhar b4 , but now am very clear that everything is beyond dat old lurk, n his helplessly a bigot ..there is no peace for the wicked , and nigerian government has been for years wicked enough..una dey plan 2019 again untop dis demonic constitution?..all of una dey mumu.........set you priorities right, blackheads......dnt let any of them deceive you, none of dem can revamp this country under any means or dia present practice and system of convoy and sirens.....THE EDIOT POLITICIANS ARE PRACTICAL POLITICAL JObBERS....IF NA LIE,LOOK AT UR COUNTRY TODAY, WETIN YOU DEY SEE?..LOOK AT YOUR GOVERNMENT, DIA RECORDS FROM STATE , MINISTRY, GOVERNORS, LOCALITY , THEIR MOUTH , UR POLICE , YOUR CURRENCY, YOUR SOCIETY , THEIR PROMISES , WAT U READ ON THE NEWSPAPER DAILY'S AND ALL....WAT DO U SEE?......NA ME GO TELL U TO WASH UNA EYES?.....SORRY NIGERIANS...

NwaAmaikpe:


The Naira is amongst the most worthless currencies in the world... All thanks to Buhari.
Yet girls will still run after it.

The picture below describes what the naira is;
A bloody footmat

ENDTIMEgist:


when are you going to Libya to make 600,000# abi Naija never tire you?

Teeboi56:
Na wao our naira is d most worst currencie I ever seen

Even Cape Verde way be say their population is 150,000 their currencie still pass us



Same on Nigeria