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Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! - Politics - Nairaland

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Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Biodun556(m): 4:53am On Sep 24, 2020
THE VALUE OF THE NAIRA.
~Eruobodo.

A currency's value is what is can fetch those who use it as a means of exchange!

Those in America use dollars and those in the UK use pounds sterling. Emiratis use Dirhams and Indians Rupees. Nigerians therefore use the Naira.

The Naira today, is equivalent to 600 units to the GB£ and 500 units to the US$.

Though we are quick to lampoon the Naira as worthless, but let us compare how much value each of these currencies equivalents fetch their owners/holders, within their borders?

In the US, a dollar ($) may not buy you more than a small bottle of water, while N500 will buy you a pack of 12 of the same bottles of water in Nigeria!

A pound (GB£) may not buy you even a small loaf of bread in London, but in Lagos, N600 will buy you and your partner, breakfast for 2, consisting of one N250 big loaf of bread, 4 fried eggs and 2 bottles of water!

Days ago, I bought 50 pieces of medium sized oranges from the Ketu fruit market for N1,000, that's just $2! I bought 3 pineapples for N500 ($1)!

A litre of fuel costs N160 in Lagos, but cost $0.86 (N430) in New York! While I know people who pay cad1,700 (N500,000) per month for their glorified room and parlour self-contained in Ottawa, that is what a friend pays in 6 months, for a 2 bedroom apartment, with separate toilet, bathroom and proper kitchen, in Dolphin Estate, Ikoyi!

So why do Nigerians make so much noise over the value of their currency, when it still fetches them more value than the other currencies that they pitch the Naira against? The answer is simple: the "values" of Nigerians!

While Nigerians reacted with consternation at Dino Melaye's obnoxious display of his stolen wealth, the average Nigerian behaves exactly like Dino Melaye! From the man on the streets to the Churchpreneurs who claim to represent God!

They produce nothing, but want to flaunt everything!

Someone lamented to me about his wife's tenant, who has failed to pay N120,000 rent, for nearly a year, but slaughtered a ram and made festivities, worth N150,000, during the last Moslem "Ileya" festival!
Ask me what the man produces? Zilch!

Had this same debtor taken the N150,000, wasted on the one day feasting to the market, it will be more than enough to set up a fried Yam, sweet potatoes, Akara business, that can net him N300,000 monthly, and take him out of poverty and debt forever!

So, because Nigerians are unproductive at home, but consume from used clothes, to fake hair and eye lashes, to even PMS, from the abroad, they keep whining about the value of the dollar/pound-sterling against their currency.

There are universities in Nigeria, and I had my education entirely in Nigeria! So, if I chose to send my children abroad, what is the headache of the government in my personal decision, should the currency in their country of choice proves unaffordable to me? Who send me?

My personal definition of the problem with Nigeria is that, the policies of the State are manipulated to suit the indulgences of certain classes of Nigerians, who feed fat on the miseries of the masses.

Government resorted to importing fuel because some privileged Nigerians criminally destroyed our refining capacities. Rather than punish them, we put the punishment on Nigerians.

Government "subsidized" the same imported fuel, to create artificial opportunities for some privileged people to loot our treasury, under the artificially created system of "subsidies".

These Nigerians and their fraudulent economists should stop fooling themselves about the poor exchange rates of the nation's currency. 95% of the citizens of this country need food, water, Medicare, etc, obtainable in Naira!

If some useless, lecherous and unproductive, yet entitled, vanity flaunting elements like Dino Melaye, need foreign currencies to feed their insanity, what has that got to do with Nigeria?

If you want to indulge in the zero nutrition Orange, imported from wherever and sold at times ten that of super tasting Oranges from Benue, must Nigeria care about your price plight? Who send you?

If you chose Pizza over Aboki freshly cooked spicy bread and eggs, please find enough Naira to indulge in your borrowed Italian taste. #KokanAye!

This argument over our poor currency is a lie of the elite to pass their problems as everyone's!

Days ago, I made a 4 litre bowl of cooked beans (enough to feed at least 8 adults) from a N200 ($0:40) measure of beans! Add another N500 ($1) worth of sweet potatoes, and you have a super nutritious meal for 8 adults!

That's less than $3 in total, N1,500 (including the costs of other stuff like onions, peppers and oil), to feed 8 adults?

Before you complain that the Naira is weak, tell me what you need the foreign currencies for, and #Eruobodo will show you how you and Dino Melaye are related!

69 Likes 14 Shares

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by rottennaija(m): 4:56am On Sep 24, 2020
This is really interesting and there is truth in it.

40 Likes 4 Shares

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by kurupt1: 4:57am On Sep 24, 2020
Ur brain is malfunctioning

45 Likes 5 Shares

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Kpomosauce: 5:01am On Sep 24, 2020
You dey yarn dust my man.
why not compare 1naira to 1 dollar or pounds na.
For your mind you think say you wise

82 Likes 4 Shares

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by rottennaija(m): 5:02am On Sep 24, 2020
kurupt1:
Ur brain is malfunctioning

Explain how. He made a serious point.

35 Likes 3 Shares

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Toosure70: 5:03am On Sep 24, 2020
Nigeria is in a serious trouble o. Who be dis one again?

26 Likes 5 Shares

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Toosure70: 5:04am On Sep 24, 2020
rottennaija:
This is really interesting and there is truth in it.
run man, that man may infect you o.

13 Likes 1 Share

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by rottennaija(m): 5:05am On Sep 24, 2020
Kpomosauce:
You dey yarn dust my man.
why not compare 1naira to 1 dollar or pounds na.
For your mind you think say you wise

He did. Did you read? He clearly showed the purchasing power of our money is stronger (even at the exchange rate) compared to the dollar or pound for the goods and services we grow and consume.

26 Likes 1 Share

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Kpomosauce: 5:05am On Sep 24, 2020
rottennaija:


Explain how. He made a serious point.
which serious point? them don already brainwash this one

6 Likes 1 Share

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Kpomosauce: 5:06am On Sep 24, 2020
rottennaija:


He did. Did you read? He clearly should the purchasing power of our money is stronger (even at the exchange rate) compared to the dollar or pound for the goods and services we grow and consume.
okay if 1 dollar can buy you a bottle of water what can 1 naira buy you?

101 Likes 6 Shares

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by rottennaija(m): 5:07am On Sep 24, 2020
Toosure70:
run man, that man may infect you o.
When you have no idea to run with, you tell others to run from those who have the idea.

5 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by iHart(m): 5:08am On Sep 24, 2020
This has been my argument with a lot of people. What the naira will do here, its equivalent in other currency will not even do half of it in the country they use it.

20 Likes 1 Share

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by iHart(m): 5:09am On Sep 24, 2020
Kpomosauce:
okay if 1 dollar can buy you a bottle of water what can 1 naira buy you?
is 1 dollar equal to 1 naira?

37 Likes 3 Shares

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by rottennaija(m): 5:09am On Sep 24, 2020
Kpomosauce:
okay if 1 dollar can buy you a bottle of water what can 1 naira buy you?

Probably nothing. But what is the equivalent of 1 dollars? 500 naira? Can 500 naira (1$) but you within your borders what 1$ in USA cannot?

10 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by rottennaija(m): 5:11am On Sep 24, 2020
Kpomosauce:
which serious point? them don already brainwash this one

Counter his presentation with fact and figures, not throw shades and insult.

17 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Kpomosauce: 5:14am On Sep 24, 2020
rottennaija:


Probably nothing. But what is the equivalent of 1 dollars? 500 naira? Can 500 naira (1$) but you within your borders what 1$ in USA cannot?
what is purchasing power? comparing 1 dollar to 500naira? see the difference na

6 Likes 1 Share

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Kpomosauce: 5:15am On Sep 24, 2020
iHart:
is 1 dollar equal to 1 naira?
you just shot yourself on the leg guy

one dollar can buy you bottle water within the borders of the US. Now what can 1 naira buy within Nigeria.

66 Likes 5 Shares

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by FraudMan: 5:18am On Sep 24, 2020
CRAP!!!

2 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Biodun556(m): 5:20am On Sep 24, 2020
Kpomosauce:
You dey yarn dust my man.
why not compare 1naira to 1 dollar or pounds na.
For your mind you think say you wise


It is about the quality and quantity of what the currency will fetch you. If you believe the dollar is better spend it in the US not in Nigeria that is how we will know weather it is valuable or not.

5 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Esseite: 5:22am On Sep 24, 2020
Excellent read...

But the article is flawed when you take into consideration the raw material to produce the made in Nigeria items, or the purchase of equipment to farm the local foods are all imported and directly affected by the naira value.

6 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by CHRISDMANAGER(m): 5:23am On Sep 24, 2020
You may argue that Naira has more purchasing Power within our borders,But I still want to let you understand that Nigeria is an Importing nation,we are dependent on the whites for so many things and remember,when you want to trade you convert to hard currency..

If you are an Importer or you are about to go school Abroad you will understand the reason...By the time chinedu importer imports goods and tells you that dollar is high you will understand the relativity....

Imagine if I want to school Abroad and of course I will pay via hard currency, let's say the school fee is $200 Dollars,convert 200 dollars to Dollar/Naira exchange rate when it was 200 that will be #40,000 in naira ,now convert it to $388 rate now that will be Approximately #78,000 thousand Naira..

This is just my own little analogy,why I will say you are not wrong to some extent,you still can't disregard this points stated here unless you are shying away from the truth..

25 Likes 2 Shares

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by StaffofOrayan(m): 5:24am On Sep 24, 2020
This is what a naive person would write
Try taking 500 naira to the Island/Abuja, if u buy small water, u lucky, I doubt if N500 can pay ur toll gate to enter lekki

There are also places in America where u would get a good meal for $1

Ever heard of Dollar stores in US and Canada?

38 Likes 5 Shares

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Kpomosauce: 5:28am On Sep 24, 2020
Biodun556:



It is about the quality and quantity of what the currency will fetch you. If you believe the dollar is better spend it in the US not in Nigeria that is how we will know weather it is valuable or not.
Regardless of where you'd spend it which would you go for 1000 naira or 1000 dollars?

Answer me o

41 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by DiagnoPolitics: 5:28am On Sep 24, 2020
Dirty ewedu hatchet job. Epil fail!

7 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by IITTA50: 5:38am On Sep 24, 2020
Your analysis is right. But in USA you cannot be paid a dollar per hour because I is too small and in Nigeria what kind of work can pay you #600 per hour? So bro you should look at how dollars and naira were earned before analyzing it

64 Likes 6 Shares

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by aremuforlife(m): 5:42am On Sep 24, 2020
kurupt1:
Ur brain is malfunctioning
Yes, accepted his brain is malfunctioning.
Can you dispute his fact with your 100% functioning brain.

2 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Toosure70: 5:43am On Sep 24, 2020
rottennaija:

When you have no idea to run with, you tell others to run from those who have the idea.
your Monica truly shows that you're finally rotten, Don't join a sick person, no senses in his post.

1 Like

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by aremuforlife(m): 5:46am On Sep 24, 2020
[/quote][quote author=CHRISDMANAGER post=94244874]You may argue that Naira has more purchasing Power within our borders,But I still want to let you understand that Nigeria is an Importing nation,we are dependent on the whites for so many things and remember,when you want to trade you convert to hard currency..

If you are an Importer or you are about to go school Abroad you will understand the reason...By the time chinedu importer imports goods and tells you that dollar is high you will understand the relativity....

Imagine if I want to school Abroad and of course I will pay via hard currency, let's say the school fee is $200 Dollars,convert 200 dollars to Dollar/Naira exchange rate when it was 200 that will be #40,000 in naira ,now convert it to $388 rate now that will be Approximately #78,000 thousand Naira..

This is just my own little analogy,why I will say you are not wrong to some extent,you still can't disregard this points stated here unless you are shying away from the truth..
He has been able to discuss on both the importation and the abroad schooling, he said there schools in Nigeria, we grow what we eat or make use of our local supply, with this, the use of foreign exchange can be reduced.

7 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by aremuforlife(m): 5:52am On Sep 24, 2020
Biodun556:



It is about the quality and quantity of what the currency will fetch you. If you believe the dollar is better spend it in the US not in Nigeria that is how we will know weather it is valuable or not.
Yes,spend the currency in her home country, and not where it has more value. Most of us like to value the currency of our resident country to our home country and sometimes, spending the money becomes another thing. For example, if you want to buy a middle man Jean's trousers, it start from 35-40euro per pair, but you can get that in Nigeria maybe 3-5k.

3 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Starcrest1: 5:58am On Sep 24, 2020
Naira is not more valuable than the dollar but it's just about numbers. This will make sense to people who are converting the dollar to naira but if you stay in the US, it wouldn't mean much to you because the value of the goods is proportional to what you earn.

Some people earn $2000 a week. That's what some average earners earn in six months in Nigeria. Now imagine renting apartment to that average earner for $1500 a month it's not possible naa.

So the value comes in play when you compare it with what you earn understand?

19 Likes 1 Share

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by candygist: 5:59am On Sep 24, 2020
Biodun556:
THE VALUE OF THE NAIRA.
~Eruobodo.

A currency's value is what is can fetch those who use it as a means of exchange!

Those in America use dollars and those in the UK use pounds sterling. Emiratis use Dirhams and Indians Rupees. Nigerians therefore use the Naira.

The Naira today, is equivalent to 600 units to the GB£ and 500 units to the US$.

Though we are quick to lampoon the Naira as worthless, but let us compare how much value each of these currencies equivalents fetch their owners/holders, within their borders?

In the US, a dollar ($) may not buy you more than a small bottle of water, while N500 will buy you a pack of 12 of the same bottles of water in Nigeria!

A pound (GB£) may not buy you even a small loaf of bread in London, but in Lagos, N600 will buy you and your partner, breakfast for 2, consisting of one N250 big loaf of bread, 4 fried eggs and 2 bottles of water!

Days ago, I bought 50 pieces of medium sized oranges from the Ketu fruit market for N1,000, that's just $2! I bought 3 pineapples for N500 ($1)!

A litre of fuel costs N160 in Lagos, but cost $0.86 (N430) in New York! While I know people who pay cad1,700 (N500,000) per month for their glorified room and parlour self-contained in Ottawa, that is what a friend pays in 6 months, for a 2 bedroom apartment, with separate toilet, bathroom and proper kitchen, in Dolphin Estate, Ikoyi!

So why do Nigerians make so much noise over the value of their currency, when it still fetches them more value than the other currencies that they pitch the Naira against? The answer is simple: the "values" of Nigerians!

While Nigerians reacted with consternation at Dino Melaye's obnoxious display of his stolen wealth, the average Nigerian behaves exactly like Dino Melaye! From the man on the streets to the Churchpreneurs who claim to represent God!

They produce nothing, but want to flaunt everything!

Someone lamented to me about his wife's tenant, who has failed to pay N120,000 rent, for nearly a year, but slaughtered a ram and made festivities, worth N150,000, during the last Moslem "Ileya" festival!
Ask me what the man produces? Zilch!

Had this same debtor taken the N150,000, wasted on the one day feasting to the market, it will be more than enough to set up a fried Yam, sweet potatoes, Akara business, that can net him N300,000 monthly, and take him out of poverty and debt forever!

So, because Nigerians are unproductive at home, but consume from used clothes, to fake hair and eye lashes, to even PMS, from the abroad, they keep whining about the value of the dollar/pound-sterling against their currency.

There are universities in Nigeria, and I had my education entirely in Nigeria! So, if I chose to send my children abroad, what is the headache of the government in my personal decision, should the currency in their country of choice proves unaffordable to me? Who send me?

My personal definition of the problem with Nigeria is that, the policies of the State are manipulated to suit the indulgences of certain classes of Nigerians, who feed fat on the miseries of the masses.

Government resorted to importing fuel because some privileged Nigerians criminally destroyed our refining capacities. Rather than punish them, we put the punishment on Nigerians.

Government "subsidized" the same imported fuel, to create artificial opportunities for some privileged people to loot our treasury, under the artificially created system of "subsidies".

These Nigerians and their fraudulent economists should stop fooling themselves about the poor exchange rates of the nation's currency. 95% of the citizens of this country need food, water, Medicare, etc, obtainable in Naira!

If some useless, lecherous and unproductive, yet entitled, vanity flaunting elements like Dino Melaye, need foreign currencies to feed their insanity, what has that got to do with Nigeria?

If you want to indulge in the zero nutrition Orange, imported from wherever and sold at times ten that of super tasting Oranges from Benue, must Nigeria care about your price plight? Who send you?

If you chose Pizza over Aboki freshly cooked spicy bread and eggs, please find enough Naira to indulge in your borrowed Italian taste. #KokanAye!

This argument over our poor currency is a lie of the elite to pass their problems as everyone's!

Days ago, I made a 4 litre bowl of cooked beans (enough to feed at least 8 adults) from a N200 ($0:40) measure of beans! Add another N500 ($1) worth of sweet potatoes, and you have a super nutritious meal for 8 adults!

That's less than $3 in total, N1,500 (including the costs of other stuff like onions, peppers and oil), to feed 8 adults?

Before you complain that the Naira is weak, tell me what you need the foreign currencies for, and #Eruobodo will show you how you and Dino Melaye are related!

Mr op, which we'd did you take ?

2 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by VeeVeeMyLuv(m): 6:03am On Sep 24, 2020
Spot on and well said.
If govt make mistake and apply task rate/service rates that obtains in UK and US in naija, it will be hard for them to loot, because nobody go gree after taxes has chopped away 50% of their income.

1 Like

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