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Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! - Politics (3) - Nairaland

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Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by engrsyer(m): 7:54am 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!
Why not also compare the minimum wage their govts give their civil servants with ours? Why not compare the social amenities their govt gave to her citizens with ours? Most State Govts in Nigeria are yet to implement the N30,000/Month salary for civil servants which is just US$78.945/month at an official exchange rate of N380/1$.

In Nigeria, Federal Govt pays their civil servants of GL 08:05 just N60,000/month then compare to what those countries you mentioned to their graduates(GL 08:05) before you now talk about how our private sectors are paying graduates 30,000 or less.

In US/UK they can never pay their graduates less than N1,000,000 in a month when even those doing miniature jobs are earning more than that as a semi skilled person in a month.

Op, do you think if FG/State Govts are paying the least worker 500k people would complain?
If you earn 500k in a month in Nigeria and your total expenditure as a poor Nigerian is 300k which comprises monthly feeding, housing, transport, education, utility bills and health people would complain?

My dear think.

3 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Notatribalist(m): 8:00am On Sep 24, 2020
seanblaise:

Do you think everyone in America is rich? Are do you think making money and having something to save is easy overseas?...Have you ever asked yourself what type of jobs Nigerians do when they go to the west?
Our graduates sweep streets, they walk dogs, they drives taxies and walk in restaurants, and these are jobs they are not willing to do here in Nigeria. If we enjoy same things Americans or Europeans enjoy( electricity, good education, good health care, good security, efficient tranport services etc) No Nigerian will like to leave for the west where they suffer inhumane conditions just to survive.
You got me wrong. I am actually on the same page with you brother.. I know some friends in France that sales rosted corn.So in Italy are doing car wash,and they do the same business in Nigeria they will make money..So my brother I am a pro Nigeria, I have been to 8 country in the world and sentiment apart Nigeria economy is better than most of this over hype supper power economy.

1 Like

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Obas101(m): 8:05am On Sep 24, 2020
Nigerians go school but nothing dey their head. How can you compare the same amount of money in buying a bag of pure water. Do you know how much a cleaner earns in a month in US? A cleaners earning in a month can pay a standard house rent in US.

1 Like

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by kapelvej: 8:08am On Sep 24, 2020
rottennaija:
This is really interesting and there is truth in it.
Zero truth. The question is this , what does it take to make 500 naira and what does it take to make 1 dollar

3 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by aminusodiq(m): 8:12am On Sep 24, 2020
He made valid point,!! People who earn in dollars are presently millionaires!, but a vast majority of Nigerians don't earn in dollars , some work so hard to earn 2k which is equivalent to roughly $5.... Thats where he lost his point! Its only a good thing for foreign earners who spend in nigeria grin
Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Firespitterz: 8:16am On Sep 24, 2020
Tunde835:
Most Things Are Cheaper In Nigeria Compared To Abroad Except Electronics Which We Import Like Iphone

Lies. What we have in Nigeria is low grade goods and services. That's why you think they are cheaper. In fact considering the quality of what we have here, we spend too much for too little.

4 Likes 1 Share

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by mabea: 8:17am On Sep 24, 2020
The guy made some valid points. However his theory would have been more workable if Nigeria is a producing nation. You see, apart from the agricultural produce Nigeria imports most of her basic needs thereby making the dollar stronger than the naira.

1 Like

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Tunde835(m): 8:20am On Sep 24, 2020
aremuforlife:

Even the electronics are cheaper in Nigeria than Europe,. I can attest to that.
Tecno And Itel Phone
Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Openbusiness: 8:24am On Sep 24, 2020
These people have come with their useless shameless lies. £1 pound will buy you a full box of Kellogg's cereal or Fruit and Fibre. There are less than $1 box cereals in America. What can N1 buy you here in Nigeria? May God punish all the workers of iniquity because these kinds of lies are nothing but evil and wickedness

2 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Sunkie119(m): 8:25am 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.

No he compare the value of 1 dollar to naira..... as 1 naira has no value. Can u compare 100 dollar to 100 naira

2 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by rottennaija(m): 8:26am On Sep 24, 2020
kapelvej:
Zero truth. The question is this , what does it take to make 500 naira and what does it take to make 1 dollar

Tell me. I'm all ears
Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Csami(m): 8:27am On Sep 24, 2020
Most Nigerians don't have anything in their head. Comparing 1dollar to 500 that's insane. Why don't we compare 1dollar to 1naira

1 Like

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Firespitterz: 8:32am On Sep 24, 2020
seanblaise:

Do you think everyone in America is rich? Or do you think making money and having something to save is easy overseas?...Have you ever asked yourself what type of jobs Nigerians do when they go to the west?
Our graduates sweep streets, they walk dogs, they drives taxies and work in restaurants, and these are jobs they are not willing to do here in Nigeria. If we enjoy same things Americans or Europeans enjoy( electricity, good education, good health care, good security, efficient tranport services etc) No Nigerian will like to leave for the west where they suffer inhumane conditions just to survive.

It is not inhuman to drive taxi in abroad. Graduates Fry akara in Nigeria too. It is only inhuman if your pay is not commensurate with what you give? In that case, is it not more human to sweep road as a graduate and receive 2000 dollars a month, than for you to work in a bank as a graduate and receive 200 dollar per month?
Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Openbusiness: 8:32am On Sep 24, 2020
Csami:
Most Nigerians don't have anything in their head. Comparing 1dollar to 500 that's insane. Why don't we compare 1dollar to 1naira
don't mind the idiot liars. In America, you can eat a buffet with $5. What can N5 buy in Nigeria? It can't even buy Tom Tom.

2 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Sammy07: 8:35am On Sep 24, 2020
As an economist, this crap is a disgrace to me?
Whoever wrote this is insane.

We imports most of the things we use in Nigeria, that's why dollar is stronger than Naira.

Purchasing power matters not the value you see on the currency

3 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Valkan(m): 8:36am 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!
get ur facts right next time the post below was copied from quora


Where I live in Ohio here’s what $1 can buy you:
-About 6–7 standard packages of Ramen or 4 Ramen cups
-2 pounds of standard dried brown or white rice
-1–2 cans of kidney beans/other kinds of beans
-If you are lucky you can buy a basic slider hamburger (dollar menus no longer exist for sandwiches so a mini hamburger on a tiny bun)
-a couple of tiny bread rolls
-Generic cheese and maybe 1 or 2 baby bell cheese rounds
-A bag of generic chips or a tiny bag of name brand chips
-A chocolate bar
-1 avacado
-small bag of carrots
-Spaghetti in a can
-Pasta

and also Since July 24, 2009, the federal minimum wage is $7.25 per hour. As of January 2020, there were 29 states and D.C with a minimum wage higher than the federal minimum. That is an equivalent of 3600 naira,meaning if I work half a day 7.25*12 I will earn $87 I.e 43000 naira

4 Likes 2 Shares

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Obas101(m): 8:38am On Sep 24, 2020
rottennaija:


Tell me. I'm all ears
There is no job in US that will charge you $1 per hour. Now compare that to #500 per hour. The average earning in US is about $20 per hour... Now think about it again
Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by FarahAideed: 8:39am On Sep 24, 2020
The writer is is very dull .. when you want to compare unit you compare them withe same base value ...What Can 1 Naira get U

3 Likes 1 Share

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Csami(m): 8:39am On Sep 24, 2020
Openbusiness:
don't mind the idiot liars. In America, you can eat a buffet with $5. What can N5 buy in Nigeria? It can't even buy Tom Tom.

Exactly. That's just insanity or brainless fellows making that comparison. I'm sure both naira and dollar started equal in the beginning.
Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Valkan(m): 8:45am On Sep 24, 2020
Obas101:

There is no job in US that will charge you $1 per hour. Now compare that to #500 per hour. The average earning in US is about $20 per hour... Now think about it again
minimum wage na $7.25 per hour
Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Openbusiness: 8:46am On Sep 24, 2020
Let's not even talk about exchange rate alone, let's look at it from the angle of quality of life and the purchasing power within the local economy. Nigeria produces garri locally, all raw materials to manufacture garri are local based. How much is the cheapest garri? A very tiny nylon is N20. Go to America and Europe. Do you know what $20 or £20 can buy as per locally manufactured goods in those places? You can buy more than 20 units of full big boxed cereals. Some cost like 50 cents per box, that means you can buy 40 of those types with $20. Yet one idiot liar is still concocting useless lies that Naira is more valuable. In America, you can buy a latest 2020 car with about $25,000. Car that they manufactured in their country. Innoson claims to be manufacturing cars and 80% of their manufacturing materials are produced locally. Ok if that's true, which Innoson car can you buy for N25,000? Or what's the cheapest Innoson brand new car? Probably nothing less than N4m, yet they claim Naira is better. Rubbish post!

3 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by iHart(m): 8:47am On Sep 24, 2020
CodeTemplar:
One Naira was once equivalent to one Dollar. How about that. The quality of 1 bedroom flat there isn't same as 2 bedroom flat here because water flows, power is constant, amenities work(mail, roads, train, healthcare, education). The disparity in buying power is effectively negated by standard of society.
Which currency in the world has its one unit equivalent to one unit of dollar? If $1 is equivalent to #500, you compare the purchasing power of $1 and #500 in the respective country!

1 Like

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Openbusiness: 8:49am On Sep 24, 2020
Csami:


Exactly. That's just insanity or brainless fellows making that comparison. I'm sure both naira and dollar started equal in the beginning.

Naira and dollar didn't start equally from the beginning. As at the early 1930's / 40s, Naira had more value than dollar. $1 = 50 Kobo, and then N1 = £1. My grandparents (God rest their souls), used to tell me. They lived in this era.
Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by seanblaise(m): 8:54am On Sep 24, 2020
Firespitterz:


It is not inhuman to drive taxi in abroad. Graduates Fry akara in Nigeria too. It is only inhuman if you pay is not commiserate with what you give? In that case, is it not more human to sweep road as a graduate and receive 2000 dollars a month, than for you to work in a bank as a graduate and receive 200 dollar per month?
Most times, its not about the work you do, its about WHERE you do the work. Quality of life life differs from one place to another. For instance, here in Lagos, house rents are generally more expensive on the island than on the mainland. A house of 1million naira on the mainland may go for 700k or 800k on the mainland. So if an individual earns 500k a month and lives on the island (where things are more expensive) and another individual earns 350k and lives on the mainland where things are not so expensive you discover that both of them enjoy the same amenities irrespective of the fact that their salaries differ. This post is not in defense of Nigeria (because things westerners take for granted are seen as luxury here), but to further prove that someone who earns 2k dollars sweeping streets abroad may have the same savings with someone who earns 400k frying akara in Nigeria. In Nigeria you can beg your landlord to extend your due date to pay rent but overseas you dont even know who your landlord is. Tell me why you need dollars and I will show you how our government has failed us.
In conclusion, As long as the status quo remains, we spend less on our local commodities( things we produce locally like from raw materials to finished products.) and spend more when we patronize imported goods. Unfortunately, the west has an upper hand internationally because we are an import dependent economy. If we stop importing, we will grow. If we continue importing, then the dollar continues dictating the strength of our economy.

5 Likes 2 Shares

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Openbusiness: 8:54am On Sep 24, 2020
Valkan:
get ur facts right next time the post below was copied from quora


Where I live in Ohio here’s what $1 can buy you:
-About 6–7 standard packages of Ramen or 4 Ramen cups
-2 pounds of standard dried brown or white rice
-1–2 cans of kidney beans/other kinds of beans
-If you are lucky you can buy a basic slider hamburger (dollar menus no longer exist for sandwiches so a mini hamburger on a tiny bun)
-a couple of tiny bread rolls
-Generic cheese and maybe 1 or 2 baby bell cheese rounds
-A bag of generic chips or a tiny bag of name brand chips
-A chocolate bar
-1 avacado
-small bag of carrots
-Spaghetti in a can
-Pasta

and also Since July 24, 2009, the federal minimum wage is $7.25 per hour. As of January 2020, there were 29 states and D.C with a minimum wage higher than the federal minimum. That is an equivalent of 3600 naira,meaning if I work half a day 7.25*12 I will earn $87 I.e 43000 naira
don't mind these jokers. They think it's everyone that's not exposed, so they want to concoct useless lies to defend this useless govt that has further destroyed the Nigerian economy. They are trying to justify Buhari regime failure. Later when Dangote refinery starts and they turn fuel price to N500 per liter, they will form another story and tell us how Americans buy fuel at nearly 1 and half dollar per liter. But the idiots forget that WE ARE NOT LIVING THE SAME QUALITY OF LIFE THAT THEY LIVE IN AMERICA.

1 Like

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by iHart(m): 8:56am On Sep 24, 2020
Kpomosauce:
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.
if you want to compare the two, you do it using the equivalent values. So in your imagination, you want $1 to be equal to #1, so that when you get #100, 000 it becomes $100, 000? Do you know that an average person in US don't make $100, 000 in a year but an average business man in Nigeria can make more than #100, 000 every month? Our environments are not the same, you should not be comparing our currency head to head with that of dollar
Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by seanblaise(m): 9:01am On Sep 24, 2020
Openbusiness:
Let's not even talk about exchange rate alone, let's look at it from the angle of quality of life and the purchasing power within the local economy. Nigeria produces garri locally, all raw materials to manufacture garri are local based. How is the cheapest garri? A very tiny nylon is N20. Go to America and Europe. Do you know what $20 or £20 can buy as per locally manufactured goods in those places? You can buy more than 20 units of full big boxed cereals. Some cost like 50 cents per box, that means you can buy 40 of those types with $20. Yet one idiot liar is still concocting useless lies that Naira is more valuable. In America, you can buy a latest 2020 car with about $25,000. Car that they manufactured in their country. Innoson claims to be manufacturing cars and 80% of their manufacturing materials are produced locally. Ok if that's true, which Innoson car can you buy for N25,000? Or what's the cheapest Innoson brand new car? Probably nothing less than N4m, yet they claim Naira is better. Rubbish post!
You still miss the point. Strength of a currency does not lie in the digit number but in the value of such currency in the international market. Value is the watch word and not digit. High school in the US is the same as Secondary school here in Nigeria. College degree in the US is the same as University degree in Nigeria. Where the disparity comes is when you begin to measure the value of education offered abroad as compared with what is obtainable here in Nigeria.
This simply means that you should not focus on the digits of a currency but on the strength of the currency. Here is what it means; if the federal minimum wage in America is 1000 dollars per month, and the federal minimum wage in Nigeria is 480k per month, then it means people in both countries earn exactly the same amount of money irrespective of the fact that the amount in Naira is way higher than the amount in dollars but the value is equal( if the exchange rate is 480 naira per dollar).
P. S. The minimum wage values I used are not real. Its just an analogy.

2 Likes

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by iHart(m): 9:02am On Sep 24, 2020
Openbusiness:
Let's not even talk about exchange rate alone, let's look at it from the angle of quality of life and the purchasing power within the local economy. Nigeria produces garri locally, all raw materials to manufacture garri are local based. How is the cheapest garri? A very tiny nylon is N20. Go to America and Europe. Do you know what $20 or £20 can buy as per locally manufactured goods in those places? You can buy more than 20 units of full big boxed cereals. Some cost like 50 cents per box, that means you can buy 40 of those types with $20. Yet one idiot liar is still concocting useless lies that Naira is more valuable. In America, you can buy a latest 2020 car with about $25,000. Car that they manufactured in their country. Innoson claims to be manufacturing cars and 80% of their manufacturing materials are produced locally. Ok if that's true, which Innoson car can you buy for N25,000? Or what's the cheapest Innoson brand new car? Probably nothing less than N4m, yet they claim Naira is better. Rubbish post!
if an american company pays their staff $25, 000 per year, will you accept to work remotely for that company from Nigeria for a pay of #25, 000 per year?
Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by EmmySparky(m): 9:03am On Sep 24, 2020
op u got no point...why not compare 1 dollar to one naira
Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by yaki84: 9:04am 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.
Do u stay in Nigeria no vex for the question?
Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Openbusiness: 9:04am On Sep 24, 2020
iHart:
if you want to compare the two, you do it using the equivalent values. So in your imagination, you want $1 to be equal to #1, so that when you get #100, 000 it becomes $100, 000? Do you know that an average person in US don't make $100, 000 in a year but an average business man in Nigeria can make more than #100, 000 every month? Our environments are not the same, you should not be comparing our currency head to head with that of dollar
Mr man don't be clever by half, if you want to compare, compare of equal grounds. You can't be mentioning average business man in Nigeria and then saying average person in America. Why not say average business man in America too. Cuz that will expose your errors. Do you know how many millionaires America produces per year? Far far far better than your Nigeria.

1 Like

Re: Naira Is More Valuable Than Dollar And Pound. Ignorance Is Killing Us. Wake Up! by Kpomosauce: 9:07am On Sep 24, 2020
iHart:
if you want to compare the two, you do it using the equivalent values. So in your imagination, you want $1 to be equal to #1, so that when you get #100, 000 it becomes $100, 000? Do you know that an average person in US don't make $100, 000 in a year but an average business man in Nigeria can make more than #100, 000 every month? Our environments are not the same, you should not be comparing our currency head to head with that of dollar
so in essence dollar has more value than naira?

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