Not all that glitters is Gold: Naira Vs. Dollar, Which Is Stronger? I Take Naira - See why



PPP = Purchasing power parities (PPPs) are the rates of currency conversion that try to equalise the purchasing power of different currencies, by eliminating the differences in price levels between countries.

This means that goods in each country will cost the same once the currencies have been exchanged. For example, if the price of fuel in the U.S per litre was $1, and it was ₦740 in Nigeria, then the USD/NGN exchange rate should be 750 (the NAIJA price divided by the US’s) according to the PPP theory.

Nigeria has a higher purchasing power than the U.S.A
See the reason bellow.


Destiny Young wrote: If you think Nigeria ₦740 Naira is useless just because it is equivalent to $1 please read to end

I came across people making a mockery of the Naira vs the dollar in the last 48 hours and I have been laughing and pitying them since! Is the currency exchange rate a yardstick for the basic cost of living comparison? I am not happy that our Naira is depreciating always but hey….it is not that bad and this is why

1) ₦740 can buy me 2 square meals in Nigeria but $1 can’t buy you a meal in the US.
2) ₦740 can buy me 1.6GB worth of data in Nigeria but $1 can’t buy you 250MB of data in the US. T-Mobile charges N32,500 for 30GB of data, AT&T charges N37,500 for 30GB of data, and Verizon also charges ₦40,000 for the same 30GB of data in the US. Glo charges me N10,000 for 50GB and MTN charges me N10,000 for 40GB of data.
3) A 75cl bottle of water in Nigeria cost an average ₦100, a 55cl bottle water in the US is $1.45 which is ₦1125.
4) The most expensive place to live in Abuja is Aso Drive, a single room cost N600,000 per month, and the same room goes for ₦450,000 in Lekki all in Nigeria. The same room in Manhattan, New York City goes for ₦2.4 million per month.
5) N740 can buy me a Dudu osun bathing soap and a Vaseline for the harmattan season, $1 can’t do the same in the US.
6) N740 can buy me almost 4 litres of fuel in Nigeria, $1 can only buy you LESS THAN 1 litre of fuel in the US.
7) It cost an average of ₦280 daily to earn a degree in Nigeria, it cost an average of N2,650 a day to earn the same in the US.
Keep Insulting Yourself Thinking You Are Insulting Nigeria.

The challenges we are facing will be over soon. The reason we overrate this Dollar over the Naira is due to a mindset – that everything foreign is superior even when we are capable of producing better local alternatives, thereby putting pressure on the Naira to be exchanged for the Dollar. If we change our consumption mentality to a productive mentality, Naira will gain strength and compete with major currencies.
Olodumare bless Nigeria


https://ooduarere.com/news-from-nigeria/breaking-news/not-all-that-glitters-is-gold-naira/

Op, items and services you specified are available within Nigeria.

How do you now use same naira to address requirements for goods and services not available in Nigeria?

A dealer that imported iPhone at the cost of $1k will certainly sell it more than N750k. In this case, you just have to buy the iPhone at a cost higher than the prevailing cost in US.

dapoRead:
Not all that glitters is Gold: Naira Vs. Dollar, Which Is Stronger? I Take Naira - See why



PPP = Purchasing power parities (PPPs) are the rates of currency conversion that try to equalise the purchasing power of different currencies, by eliminating the differences in price levels between countries.

This means that goods in each country will cost the same once the currencies have been exchanged. For example, if the price of fuel in the U.S per litre was $1, and it was ₦740 in Nigeria, then the USD/NGN exchange rate should be 750 (the US price divided by the UK’s) according to the PPP theory.

Nigeria has a higher purchasing power than the U.S.A
See the reason bellow.


Destiny Young wrote: If you think Nigeria ₦740 Naira is useless just because it is equivalent to $1 please read to end

I came across people making a mockery of the Naira vs the dollar in the last 48 hours and I have been laughing and pitying them since! Is the currency exchange rate a yardstick for the basic cost of living comparison? I am not happy that our Naira is depreciating always but hey….it is not that bad and this is why

₦740 can buy me 2 square meals in Nigeria but $1 can’t buy you a meal in the US.
₦740 can buy me 1.6GB worth of data in Nigeria but $1 can’t buy you 250MB of data in the US. T-Mobile charges N32,500 for 30GB of data, AT&T charges N37,500 for 30GB of data, and Verizon also charges ₦40,000 for the same 30GB of data in the US. Glo charges me N10,000 for 50GB and MTN charges me N10,000 for 40GB of data.
A 75cl bottle of water in Nigeria cost an average ₦100, a 55cl bottle water in the US is $1.45 which is ₦1125.
The most expensive place to live in Abuja is Aso Drive, a single room cost N600,000 per month, and the same room goes for ₦450,000 in Lekki all in Nigeria. The same room in Manhattan, New York City goes for ₦2.4 million per month.
N740 can buy me a Dudu osun bathing soap and a Vaseline for the harmattan season, $1 can’t do the same in the US.
N740 can buy me almost 4 litres of fuel in Nigeria, $1 can only buy you LESS THAN 1 litre of fuel in the US.
It cost an average of ₦280 daily to earn a degree in Nigeria, it cost an average of N2,650 a day to earn the same in the US.
Keep Insulting Yourself Thinking You Are Insulting Nigeria.
The challenges we are facing will be over soon. The reason we overrate this Dollar over the Naira is due to a mindset – that everything foreign is superior even when we are capable of producing better local alternatives, thereby putting pressure on the Naira to be exchanged for the Dollar. If we change our consumption mentality to a productive mentality, Naira will gain strength and compete with major currencies.
Olodumare bless Nigeria


https://ooduarere.com/news-from-nigeria/breaking-news/not-all-that-glitters-is-gold-naira/

I am actually inclined to agree with your analysis BUT

Like seriously

Naira should be stronger but the managers. Of the CBN and Finance Ministry are incompetent

Main problem is there is a disconnect between the Fiscal policy and the monetary policy.

It is practically 30 times more difficult to earn N740 in Nigeria than it is to earn $1 in the US

The poorest worker in the US earns $1 every 8 mins (at $7.25 minimum wage) while the poorest worker in Nigeria earns N740 every 4 hours (at N30,000 minimum wage).

So $1 in the US should be compared to N25 in Nigeria (740/30).

LeoDeKing:
Op, items and services you specified are available within Nigeria.

How do you now use same naira to address requirements for goods and services not available in Nigeria?

A dealer that imported iPhone at the cost of $1k will certainly sell it more than N750k. In this case, you just have to buy the iPhone at a cost higher than the prevailing cost in US.

Well that is true. An importer who imports with expensive Dollar will have no option than to sell high likewise.

But the value of Naira is much stronger than it’s selling for if you compare the price of basic things like food in a restaurant and cost of housing in Nigeria to what they cost outside Nigeria

BUT I will still much rather hold the Dollar instead of the Naira because one major problem with the Naira which is mismanagement of the currency by those responsible for managing the economy is likely to continue into the foreseeable future

You are very correct, that was why Tinubu said his concern is not the dollar exchange rate but the local value of naira. This man knew that the cause of devaluation of naira against dollar is as a result of our penchant taste in everything foreign and expensive instead of us to look inward and produce most of our needs and patronize them locally.
When he said we should stop buying Benzand other foreign exotics, he is very right to a spur,but those sorosoke moronic children and zombiediots will castigate him.

They all want to be seen in expensive worthless designers. Production cost of some expensive designer clothes may not be more than a dollar #800 naira, but will be sold for a thousand dollars #800k for the brand name and foreign. That is a serious capital flight there on local currency, hence unending devaluation.
Same goes for when he made mention of the most important agricultural product Nigerian should be more concerned about, stupid children are as well making mockery of him. Rice, casava, corn and other grains are super important, but zombidiots only want to hear him talk about cereals and other baby stuff they are feed with grown up, because they don't know those are end product of basic crops like Casava and corn.
Tinubu got the brain and he has been saying it the way it should be. Let no zombie start quoting foreign unrealistic statistics and sugar coated lies for me.
Tinubu gets my vote in February and that is final.

We all want the Naira to be stronger. No question about it.

But as the OP said, why must we base our sense of wellbeing entirely on what the currency of a foreign country is up to relative to ours. It matters, yes, but it's not everything.

I'm sure people in India, South Africa etc dont monitor the Rupees/Dollar or Rand/Dollar rate every hour the way millions of Nigerians do every day, which creates the hysteria which in turn feeds the panicky rush to buy even more dollars. - all the expense of the Naira.

If we want to support the Naira, let us first focus on doing things that are within our control - starting with producing more of what we eat. We are increasingly dependent on imports to feed ourselves. This over dependence is making us a slave to the dollar. Tinubu was right.

Those who want luxuries like iPhone (yes, it is a luxury) and others should be prepared to pay the high price. It's just a fact of life.

We import everything. Even things we produce enough of here, people will still rush abroad to import.

kolaaderin:
You are very correct, that was why Tinubu said his concern is not the dollar exchange rate but the local value of naira. This man knew that the cause of devaluation of naira against dollar is as a result of our penchant taste in everything foreign and expensive instead of us to look inward and produce most of our needs and patronize them locally.
When he said we should stop buying Benzand other foreign exotics, he is very right to a spur,but those sorosoke moronic children and zombiediots will castigate him.

They all want to be seen in expensive worthless designers. Production cost of some expensive designer clothes may not be more than a dollar #800 naira, but will be sold for a thousand dollars #800k for the brand name and foreign. That is a serious capital flight there on local currency, hence unending devaluation.
Same goes for when he made mention of the most important agricultural product Nigerian should be more concerned about, stupid children are as well making mockery of him. Rice, casava, corn and other grains are super important, but zombidiots only want to hear him talk about cereals and other baby stuff they are feed with grown up, because they don't know those are end product of basic crops like Casava and corn.
Tinubu got the brain and he has been saying it the way it should be. Let no zombie start quoting foreign unrealistic statistics and sugar coated lies for me.
Tinubu gets my vote in February and that is final.

Oga what is your problem? Can’t you leave Tinubu out of this beautiful discussion. When he asked Nigerians to vote for Buhari. it was N200 to a Dollar

And all these hardship we are experiencing is because of tinubu,so nigerians is time to pay tinubu for his wickeddnes and moreover he has openly bragged he will make sure nigerians labour to death and he must continue were buhariii stoped in dealing with nigerians.
Also be very wise he has paid some of his jobles tribal slavves to sing his praises online and offline.

dapoRead:
Not all that glitters is Gold: Naira Vs. Dollar, Which Is Stronger? I Take Naira - See why



PPP = Purchasing power parities (PPPs) are the rates of currency conversion that try to equalise the purchasing power of different currencies, by eliminating the differences in price levels between countries.

This means that goods in each country will cost the same once the currencies have been exchanged. For example, if the price of fuel in the U.S per litre was $1, and it was ₦740 in Nigeria, then the USD/NGN exchange rate should be 750 (the NAIJA price divided by the US’s) according to the PPP theory.

Nigeria has a higher purchasing power than the U.S.A
See the reason bellow.


Destiny Young wrote: If you think Nigeria ₦740 Naira is useless just because it is equivalent to $1 please read to end

I came across people making a mockery of the Naira vs the dollar in the last 48 hours and I have been laughing and pitying them since! Is the currency exchange rate a yardstick for the basic cost of living comparison? I am not happy that our Naira is depreciating always but hey….it is not that bad and this is why

1) ₦740 can buy me 2 square meals in Nigeria but $1 can’t buy you a meal in the US.
2) ₦740 can buy me 1.6GB worth of data in Nigeria but $1 can’t buy you 250MB of data in the US. T-Mobile charges N32,500 for 30GB of data, AT&T charges N37,500 for 30GB of data, and Verizon also charges ₦40,000 for the same 30GB of data in the US. Glo charges me N10,000 for 50GB and MTN charges me N10,000 for 40GB of data.
3) A 75cl bottle of water in Nigeria cost an average ₦100, a 55cl bottle water in the US is $1.45 which is ₦1125.
4) The most expensive place to live in Abuja is Aso Drive, a single room cost N600,000 per month, and the same room goes for ₦450,000 in Lekki all in Nigeria. The same room in Manhattan, New York City goes for ₦2.4 million per month.
5) N740 can buy me a Dudu osun bathing soap and a Vaseline for the harmattan season, $1 can’t do the same in the US.
6) N740 can buy me almost 4 litres of fuel in Nigeria, $1 can only buy you LESS THAN 1 litre of fuel in the US.
7) It cost an average of ₦280 daily to earn a degree in Nigeria, it cost an average of N2,650 a day to earn the same in the US.
Keep Insulting Yourself Thinking You Are Insulting Nigeria.

The challenges we are facing will be over soon. The reason we overrate this Dollar over the Naira is due to a mindset – that everything foreign is superior even when we are capable of producing better local alternatives, thereby putting pressure on the Naira to be exchanged for the Dollar. If we change our consumption mentality to a productive mentality, Naira will gain strength and compete with major currencies.
Olodumare bless Nigeria


https://ooduarere.com/news-from-nigeria/breaking-news/not-all-that-glitters-is-gold-naira/

Obi is cumin!

Good perspective. It's thesame reason why you see USA panic whenever the Yuan depreciates. Coz the value is not in the exchange rate but in the purchasing power of that currency within its economy.
Make Nigeria productive (that citizens mostly buy what is produced locally), then you'll see that the you won't bother about exchange rate rather it is outsiders that will be bothered about it.

Try comparing 1$ to 1#
Try comparing 100$ to 100#
Try comparing 1000$ to 100#
Foolish people Nigerians are very stupid and ignorant people and will keep suffering until they get sense.
if u talk this rubbish for my side na very hard knock u go get to reset your rubbish brain.

dapoRead:
Not all that glitters is Gold: Naira Vs. Dollar, Which Is Stronger? I Take Naira - See why



PPP = Purchasing power parities (PPPs) are the rates of currency conversion that try to equalise the purchasing power of different currencies, by eliminating the differences in price levels between countries.

This means that goods in each country will cost the same once the currencies have been exchanged. For example, if the price of fuel in the U.S per litre was $1, and it was ₦740 in Nigeria, then the USD/NGN exchange rate should be 750 (the NAIJA price divided by the US’s) according to the PPP theory.

Nigeria has a higher purchasing power than the U.S.A
See the reason bellow.


Destiny Young wrote: If you think Nigeria ₦740 Naira is useless just because it is equivalent to $1 please read to end

I came across people making a mockery of the Naira vs the dollar in the last 48 hours and I have been laughing and pitying them since! Is the currency exchange rate a yardstick for the basic cost of living comparison? I am not happy that our Naira is depreciating always but hey….it is not that bad and this is why

1) ₦740 can buy me 2 square meals in Nigeria but $1 can’t buy you a meal in the US.
2) ₦740 can buy me 1.6GB worth of data in Nigeria but $1 can’t buy you 250MB of data in the US. T-Mobile charges N32,500 for 30GB of data, AT&T charges N37,500 for 30GB of data, and Verizon also charges ₦40,000 for the same 30GB of data in the US. Glo charges me N10,000 for 50GB and MTN charges me N10,000 for 40GB of data.
3) A 75cl bottle of water in Nigeria cost an average ₦100, a 55cl bottle water in the US is $1.45 which is ₦1125.
4) The most expensive place to live in Abuja is Aso Drive, a single room cost N600,000 per month, and the same room goes for ₦450,000 in Lekki all in Nigeria. The same room in Manhattan, New York City goes for ₦2.4 million per month.
5) N740 can buy me a Dudu osun bathing soap and a Vaseline for the harmattan season, $1 can’t do the same in the US.
6) N740 can buy me almost 4 litres of fuel in Nigeria, $1 can only buy you LESS THAN 1 litre of fuel in the US.
7) It cost an average of ₦280 daily to earn a degree in Nigeria, it cost an average of N2,650 a day to earn the same in the US.
Keep Insulting Yourself Thinking You Are Insulting Nigeria.

The challenges we are facing will be over soon. The reason we overrate this Dollar over the Naira is due to a mindset – that everything foreign is superior even when we are capable of producing better local alternatives, thereby putting pressure on the Naira to be exchanged for the Dollar. If we change our consumption mentality to a productive mentality, Naira will gain strength and compete with major currencies.
Olodumare bless Nigeria


https://ooduarere.com/news-from-nigeria/breaking-news/not-all-that-glitters-is-gold-naira/

What is minimum wage in USA?

You dey smoke iigbo

How easily can you earn $1 in USA that's what you should be concerned about. Minimum wage is 30k here and a liter of petrol is 200 plus subsidy. Which means that your minimum wage will buy you only 150 liters.

Meanwhile in USA, it's $1250 and a liter of petrol is $1 without subsidy. So if you get 1250 liters with the minimum wage in USA. That's how you should calculate it.

It's election time and this type of misinformation is expected.

You don't check how much something is sold abroad and convert it to Naira and when I compare Naira to Dollar rates, you ask me if I spend dollars

DeLaRue:
We all want the Naira to be stronger. No question about it.

But as the OP said, why must we base our sense of wellbeing entirely on what the currency of a foreign country is up to relative to ours. It matters, yes, but it's not everything.

I'm sure people in India, South Africa etc dont monitor the Rupees/Dollar or Rand/Dollar rate every hour the way millions of Nigerians do every day, which creates the hysteria which in turn feeds the panicky rush to buy even more dollars. - all the expense of the Naira.

If we want to support the Naira, let us first focus on doing things that are within our control - starting with producing more of what we eat. We are increasingly dependent on imports to feed ourselves. This over dependence is making us a slave to the dollar. Tinubu was right.

Those who want luxuries like iPhone (yes, it is a luxury) and others should be prepared to pay the high price. It's just a fact of life.

We import everything. Even things we produce enough of here, people will still rush abroad to import.

For some reason, some of you are bent in ignoring the big, destructive elephant in the room while chasing after rodents! The Nigerian Federal government is the largest, single importer of petrol and other refined products of crude oil and these imports are denominated in USD! While it seems quaint or politically correct to castigate those who want luxury gadgets and items like phones, clothes, etc; the government has consistently and deliberately failed to plug this major hole!

The same government orders vehicles in 10s and 100s from Toyota, Mercedes etc for its officials using the same scarce dollars. All their wards and dependants study abroad with access to the scarce USD yet you only want to accuse Nigerians of having foreign tastes. Where is the effort of the government to support and patronise home grown car manufacturers for instance? What is the effort towards making our higher institutions viable, attractive and competitive enough for their own children? Let's not talk about health tourism by the same government officials! Buhari, Tinubu and co are wholly sponsored by government funds for their almost monthly health checks abroad!

Manufacturers still have to import some raw materials; with the inability of the government to maintain a healthy availability of forex at strong,competitive rates they are forced to the black market. What does that then translate to? Do the maths!

All these useless calculations to defend a currency APC has damaged?

This same naira was #215 to $1 when this criminals took over, but now it's approaching #900 to $1 but instead of them to profusely beg Nigerians for forgiveness, you see them foolishly beating about the bush.

To show you how senseless the op is by comparing apples with oranges, in the US the minimum wage is above $10 per hour, but in Nigeria, the minimum wage is 18,000 per month (so what a minimum wage earner gets in US within 2 & half hours is more than what a minimum wage earner gets in a month in Nigeria). Yet this urchin is trying to compare light with darkness? May your life be harassed like the naira!

I don't blame you guys, I blame some foolish Nigerians that still entertain the idea of APC staying beyond 2023.

michlins:
How easily can you earn $1 in USA that's what you should be concerned about. Minimum wage is 30k here and a liter of petrol is 200 plus subsidy. Which means that your minimum wage will buy you only 150 liters.

Meanwhile in USA, it's $1250 and a liter of petrol is $1 without subsidy. So if you get 1250 liters with the minimum wage in USA. That's how you should calculate it.

It's election time and this type of misinformation is expected.

You don't check how much something is sold abroad and convert it to Naira and when I compare Naira to Dollar rates, you ask me if I spend dollars

Thank you! The bold part is just the point! Same idiots that asked if N216 to $1 is good are the ones suddenly blaming Nigerians for taste in foreign goods and implying that N800 + to the same $1 makes sense!

I didn't even see your comment before I posted mine. Those dirty supporters are just so nauseating in their reasoning! And they must always blame the common Nigerians who are already beaten and barely surviving!

Vote4Obi:
All these useless calculations to defend a currency APC has damaged?

This same naira was #215 to $1 when this criminals took over, but now it's approaching #900 to $1 but instead of them to profusely beg Nigerians for forgiveness, you see them foolishly beating about the bush.

I don't blame you guys, I blame some foolish Nigerians that still entertain the idea of APC staying beyond 2023.

mushystuff:


Thank you! The bold part is just the point! Same idiots that asked if N216 to $1 is good are the ones suddenly blaming Nigerians for taste in foreign goods and implying that N800 + to the same $1 makes sense!

if not for the short memory of Nigeria people, these people can not campaign. How can you turn around and blame us for the economy you destroyed. Did we suddenly develop appetite for foreign goods. Same people blaming the ordinary people flies abroad for check up leaving the "ultra modern hospitals" they built for ordinary people.

For eight years, you had the opportunity to make Nigeria the industrial hub that will reduce our dependency on foreign goods and you didn't do it. E reach election time, you blame us for buying foreign goods. Did you provide local alternative and we went foreign?

mushystuff:


For some reason, some of you are bent in ignoring the big, destructive elephant in the room while chasing after rodents! The Nigerian Federal government is the largest, single importer of petrol and other refined products of crude oil and these imports are denominated in USD! While it seems quaint or politically correct to castigate those who want luxury gadgets and items like phones, clothes, etc; the government has consistently and deliberately failed to plug this major hole!

The same government orders vehicles in 10s and 100s from Toyota, Mercedes etc for its officials using the same scarce dollars. All their wards and dependants study abroad with access to the scarce USD yet you only want to accuse Nigerians of having foreign tastes. Where is the effort of the government to support and patronise home grown car manufacturers for instance? What is the effort towards making our higher institutions viable, attractive and competitive enough for their own children? Let's not talk about health tourism by the same government officials! Buhari, Tinubu and co are wholly sponsored by government funds for their almost monthly health checks abroad!

Manufacturers still have to import some raw materials; with the inability of the government to maintain a healthy availability of forex at strong,competitive rates they are forced to the black market. What does that then translate to? Do the maths!

nooo, let's blame the masses. Buhari wears foreign made shoes, clothes and everything but we have locally made alternative. But it's election time, it's the people who wear okirika that killed our local currency. How many people who will stand in the sun to vote have ever bought a shoe worth $1,000 or worn wrist watches worth $5,000.

In the low of lowest, you still want to beat Nigeria people and blame us

Wat a stupid comparison. If Nigeria currenency is better why is it difficult for ordinary nigerians to earn one naira. It is far easier to earn a dollar in America than its to earn one naira

It is a lie to claim u can't get food for $1. You can buy donuts for one dollar. In uk u can buy a full roasted chicken after 8p.m. at Tesco and asda.


The op also lied by saying 740 can buy him two square meal in Nigeria...... like seriously wat kind of food is the op talking about

The op also lied by saying 740 can buy dudu osun and vaseline for harmattan.

The op also choose to deceive readers by saying that 740 can buy him 4 litres of fuel. What nonsense..... 740 can buy subsidized fuel. But can it buy 1 litre of kerosine at 880? Can it buy 1 litre of diesel at 870?

Finally op claims that the challenges will soon pass...... lies? Total bullshit. The challenges will not pass as long as some people are stealing 700k barrels of crude daily. Imagine since February crude oil is at $100 yet Nigeria can't benefit from it because of theft in presence of a dull president who is also minister of oil and all security agents

mushystuff:
I didn't even see your comment before I posted mine. Those dirty supporters are just so nauseating in their reasoning! And they must always blame the common Nigerians who are already beaten and barely surviving!

Honestly, these APC guys are the worst vermins ever to rule Nigeria!

dapoRead:
Not all that glitters is Gold: Naira Vs. Dollar, Which Is Stronger? I Take Naira - See why



PPP = Purchasing power parities (PPPs) are the rates of currency conversion that try to equalise the purchasing power of different currencies, by eliminating the differences in price levels between countries.

This means that goods in each country will cost the same once the currencies have been exchanged. For example, if the price of fuel in the U.S per litre was $1, and it was ₦740 in Nigeria, then the USD/NGN exchange rate should be 750 (the NAIJA price divided by the US’s) according to the PPP theory.

Nigeria has a higher purchasing power than the U.S.A
See the reason bellow.


Destiny Young wrote: If you think Nigeria ₦740 Naira is useless just because it is equivalent to $1 please read to end

I came across people making a mockery of the Naira vs the dollar in the last 48 hours and I have been laughing and pitying them since! Is the currency exchange rate a yardstick for the basic cost of living comparison? I am not happy that our Naira is depreciating always but hey….it is not that bad and this is why

1) ₦740 can buy me 2 square meals in Nigeria but $1 can’t buy you a meal in the US.
2) ₦740 can buy me 1.6GB worth of data in Nigeria but $1 can’t buy you 250MB of data in the US. T-Mobile charges N32,500 for 30GB of data, AT&T charges N37,500 for 30GB of data, and Verizon also charges ₦40,000 for the same 30GB of data in the US. Glo charges me N10,000 for 50GB and MTN charges me N10,000 for 40GB of data.
3) A 75cl bottle of water in Nigeria cost an average ₦100, a 55cl bottle water in the US is $1.45 which is ₦1125.
4) The most expensive place to live in Abuja is Aso Drive, a single room cost N600,000 per month, and the same room goes for ₦450,000 in Lekki all in Nigeria. The same room in Manhattan, New York City goes for ₦2.4 million per month.
5) N740 can buy me a Dudu osun bathing soap and a Vaseline for the harmattan season, $1 can’t do the same in the US.
6) N740 can buy me almost 4 litres of fuel in Nigeria, $1 can only buy you LESS THAN 1 litre of fuel in the US.
7) It cost an average of ₦280 daily to earn a degree in Nigeria, it cost an average of N2,650 a day to earn the same in the US.
Keep Insulting Yourself Thinking You Are Insulting Nigeria.

The challenges we are facing will be over soon. The reason we overrate this Dollar over the Naira is due to a mindset – that everything foreign is superior even when we are capable of producing better local alternatives, thereby putting pressure on the Naira to be exchanged for the Dollar. If we change our consumption mentality to a productive mentality, Naira will gain strength and compete with major currencies.
Olodumare bless Nigeria


https://ooduarere.com/news-from-nigeria/breaking-news/not-all-that-glitters-is-gold-naira/

idiat. Why then we're you attacking Jonathan when it was 190 to a Dollar? Criminals. That's what you are.

Lol

Vote4Obi:
All these useless calculations to defend a currency APC has damaged?

This same naira was #215 to $1 when this criminals took over, but now it's approaching #900 to $1 but instead of them to profusely beg Nigerians for forgiveness, you see them foolishly beating about the bush.

To show you how senseless the op is by comparing apples with oranges, in the US the minimum wage is above $10 per hour, but in Nigeria, the minimum wage is 18,000 per month (so what a minimum wage earner gets in US within 2 & half hours is more than what a minimum wage earner gets in a month in Nigeria). Yet this urchin is trying to compare light with darkness? May your life be harassed like the naira!

I don't blame you guys, I blame some foolish Nigerians that still entertain the idea of APC staying beyond 2023.

My broda thank u. The people doing menial jobs in america and uk earn more and live comfortably than people working as bank cashiers or teachers in Nigeria. People that pack refuse in ur house earn £10 per hour. Hve u ever seen refuse men in uk asking anything for the boys. Security men, clearners, dish washers, factory workers, loaders all earn better than teachers and doctors in Nigeria

Nice talk
But then the Managers of the naira are not doing well

Op see as you dey display your ignorance everywhere.

Let me break it down to your level with simple questions that won't set your brain on fire

Ask yourself how many hours do you need to work in the US to earn 1 dollars?

How many hours do you have to work in Nigeria to earn 740 naira?

The above question might stimulate your brain to start thinking in the right direction.