LegendHero:


PDP met it at N28 in 1999. Why did they left it at N216?

From the worst performing in the world to the best performing currency in just over a week tells me it is being manipulated to deceive us and cannot be sustainable.

Lol it was 500 naira a year ago
Tumbled to over 1500 and just retracing to 1100 naira
Lol

Ofunaofu:


PDP is not in power

Infact, APC used it to campaign against the PDP in 2015, only to come and make the Naira worthless

Apt

predictor1:
Weyrey, so your own dollar is #1900? I was wondering how he got his figures.

Lol! You completely lost your mind. The highest dollar ever got to under PDP was 216. The highest dollar got to under your jagaban was 1900. Do the math.
Don't forget that 216 was without any government intervention and with a massive SWF. Your current (government manipulated) 1100 is still a 362% hike on 216 that you all screamed about in 2015.

predictor1:
Go and sit down. You are worse than an illiterate. If you followed how the argument started you will see how poor your maths skills are. Someone said Pdp met currency at #28 and took it to #216. What's the percentage increase?

APC met it at #216 and took it to #1200. Calculate the percentage increase from 216 to 1200.
We found out that under the PDP the increase was higher than it has happened so far under the APC. That way there's no need to ignore or acknowledge any negative sign, you idiot.

There's nothing like percentage increase. Is 28 to 216 an increase in value or a decrease in value in terms of exchange rate valuation?

What you're discussing is currency depreciation. It's an accounting as well as economic term with mathematical definition. That you're unaware of that is based on your poor education.
Depreciation as the name implies comes with a negative sign. But rate of Depreciation is always a percentage at which you ignore the negative. Or have you ever heard of negative percentage?

Stop advertising your poor education and hiding behind insults. Insults don't make you look more intelligent.

predictor1:
Shey na you carry my thumb vote for Buhari? Buhari ko Buraimo ni.

Your god, Jonathan was an incompetent coward who made the equally incompetent buhari possible. So far Tinubu's policies are giving Nigeria a lifeline. But I don't expect you to understand.

I asked u simple questions, u r just beating around the bush. How did GEJ make Buhari incompetent? Were they in the same party when they were contesting?

Pls explain to us how your Agbodorian master's policy is giving Nigeria a lifeline? One that hurriedly removed subsidies, thereby crashing the economy, is gradually defending the naira, is that a lifeline to you? Putting the cat b4 the horse

predictor1:
No, if Nigeria starts working today some people will be very embittered because of the same politics you talked about. You know them

Read about Lee of Singapore and how he transformed, what happened, how he is celebrated even in death.

LegendHero:


Tell us how much is the official rate at 1999 with proof from legitimate sources.

I am waiting.

Stop drooling spit. See facts below:
Abdul-Aziz Na'ibi Abubakar on X: "Dollar-Naira Exchange Rate from ... https://twitter.com/jrnaib2/status/1762127178450288784?lang=en
See screenshot attached.

worksmart:
From the worst performing in the world to the best performing currency in just over a week tells me it is being manipulated to deceive us and cannot be sustainable.

What if it was manipulated to become the world’s worst currency then and it’s now retracing but with added fire?

Lizzysamuel:



216-28 that's 188 difference.

1200-216 that's how much Agbadorian?
I don't even want to mention the 1950 ATH you guys took it too.

Perhaps you should divide 216/28 to put the percentage in context.

LegendHero:


You are just saying nonsense. This is not an accounting class or calculus class.

The argument wasn’t even with you before you center yourself in.

This is the argument:
PDP took it from N28 to 216
APC took it from 216 to 1200

The argument is about folds per political party tenure not about inserting formular into the discussion. Because trying to insert that will mean we will now try to check the time value of those billion $$ PDP got from crude sales during that time with it peaking over $100 during Jonathan period. Then now use that to extrapolate how much PDP had to cushion the effect of naira falling and what modalities they put in place to keep production growing to be able to support the Naira.

Then we will now bring when Buhari came and crude oil sales fell drastically to Covid-19 era, and then now use that to arrive at all factors to now consider which is better or not.

Now tell me how much PDP government earned for their 16 years from crude oil sales since that is the main source of revenue for the CBN and then compare it to Buhari tenure revenue and then use those time value of money to infer which one is better. At least you know our earning power determine how much we have at hand to defend the naira.

Can you see we can take this argument to next year if you’re trying to check all parameters. That’s why it’s good to stay on topic.

As a student of engineering, you should be aware that mathematical tools are usually employed to describe physical quantities and relationships between them. Calculus is a mathematical tool just as depreciation rate is.

That you're using "folds" instead of "rate" reflects poorly on you as a masters degree holder in engineering. You should be familiar with certain terms and use them appropriately.

You used arithmetic in describing your calculations first let me remind you. I'm shocked you're even trying to run away from the mathematics now.
All those other things you're trying to bring in show you're not conversant with the topic. Depreciation is what you were discussing when you brought in arithmetic but you used a fraudulent rate which is why I corrected you by giving you the formula for depreciation. If you want to bring in those other irrelevant factors into it, you're free to as long as you get the maths correct!

Ofunaofu:


N216 to a dollar where the APC met it as at 2015

You can say that again

Ofunaofu:


N216 to a dollar where the APC met it as at 2015

It should have become less than N60 to a Dollar going by APC's Buhari's campaign promise in 2015 to make N1=$1, before this Bloomberg's assertion can be taken serious.

MadamExcellency:
They should continue mocking Nigerians.

There is no justification for Naira to exceed N700 at black market rate after removing fuel subsidy, naira should have appreciated to record low.

Thank you, madam Excellency

Goodlady:

Stop drooling spit. See facts below:
Abdul-Aziz Na'ibi Abubakar on X: "Dollar-Naira Exchange Rate from ... https://twitter.com/jrnaib2/status/1762127178450288784?lang=en
See screenshot attached.

And you pass through school. So if they ask you to bring a reputable source from school, na one PDP guy tweet go be your source ?

Below is my own source. It’s the official USA government website report on ways and means.

https://1997-2001.state.gov/issues/economic/trade_reports/africa98/nigeria98.html

Even if the dollar is equivalent to a naira, some people will still complain.

LegendHero:


PDP met it at N28 in 1999. Why did they left it at N216?

PDP was voted out for APC to come in to better any bad situation inflicted upon Nigeria by PDP. APC inflicted worse situation instead

Goodlady:

Stop drooling spit. See facts below:
Abdul-Aziz Na'ibi Abubakar on X: "Dollar-Naira Exchange Rate from ... https://twitter.com/jrnaib2/status/1762127178450288784?lang=en
See screenshot attached.

This is black market. Official rate was 22 naira.

Ofunaofu:


N216 to a dollar where the APC met it as at 2015

Why not ask your Messiah Obi to reverse it.
Continue to show your ignorance on social media. Perhaps the world is static and I'm sure you may be asked to reverse your height and weight to that period because you are static.
Looks you lack basic economics and I'm sure you must be a dropout student.

airsaylongcome:


Lol! You completely lost your mind. The highest dollar ever got to under PDP was 216. The highest dollar got to under your jagaban was 1900. Do the math.
Don't forget that 216 was without any government intervention and with a massive SWF. Your current (government manipulated) 1100 is still a 362% hike on 216 that you all screamed about in 2015.

Now I know you are a lunatic. #216 without government intervention.

Kukutenla:

There's nothing like percentage increase. Is 28 to 216 an increase in value or a decrease in value in terms of exchange rate valuation?

What you're discussing is currency depreciation. It's an accounting as well as economic term with mathematical definition. That you're unaware of that is based on your poor education.
Depreciation as the name implies comes with a negative sign. But rate of Depreciation is always a percentage at which you ignore the negative. Or have you ever heard of negative percentage?

Stop advertising your poor education and hiding behind insults. Insults don't make you look more intelligent.

So your rate of depreciation which is a percentage with the sign ignored gave a value where naira depreciated at less than 1% in 16 years. You are worse than an illiterate. You should seek for a refund from the village schools you attended.

Kudos to Mr Cardoso

azikiweironsi:


Why not ask your Messiah Obi to reverse it.
Continue to show your ignorance on social media. Perhaps the world is static and I'm sure you may be asked to reverse your height and weight to that period because you are static.
Looks you lack basic economics and I'm sure you must be a dropout student.

The picture below shows the APC campaign against the PDP in 2015. Though they promised to make it better, I am merely making a modest request that they just take the naira to N216 to a dollar where they met.

Is that a difficult thing to ask? Does it warrant all these insults?

Ofunaofu:


The picture below shows the APC campaign against the PDP in 2015. Though they promised to make it better, I am merely making a modest request that they just take the naira to N216 to a dollar where they met.

Is that a difficult thing to ask? Does it warrant all these insults? 

And this is still 2015? Why didn't Jonathan take it back to #28?

This has never happened in Nigeria before. Great jagaban

predictor1:
Now I know you are a lunatic. #216 without government intervention.

Mention one raid on BDCs or threats to banks to stop (the very legal) USD Cash-backed loans that happened under PDP. Just one, you dumb swine. Let's not factor in loans that APC have looted. Or the "shuttering" of a data agency like AbokiFX and arrests of Finance Executives (Binance) in claims of "fighting speculators"

predictor1:
So your rate of depreciation which is a percentage with the sign ignored gave a value where naira depreciated at less than 1% in 16 years. You are worse than an illiterate. You should seek for a refund from the village schools you attended.

No dummy. To convert 0.88 to percentage, you multiply by 100 which will give 88%.

I've been asking which school you attended because these are basic things anyone with average education should know

predictor1:
You don't know anything about foreign reserve. Your foreign reserve can be growing while you are heavily subsidizing your currency or dropping while you do the opposite. Our foreign reserve is used for other things apart from selling to bdcs. Or how do you want the bdcs to get dollars if not From government?

I don't know anything about foreign reserves? The internet is indeed a leveling ground.

Okay. Let me not even go into that. BDC's get dollars from individuals and commercial banks before and they buy at rate negotiated as both parties deem fit. But now the CBN is controlling the black market directly by supplying BDC'S dollar directly. And they're not even supplying by and market force determined rate but at rates they want. So, for the past few weeks they've been supplying at slightly lower rates daily and if you remember, the BDC'S are now strictly regulated by the govt to the extent that the govt tells them the rate to sell. So, yes, the naira is heavily defended.

The floating failed.

Kukutenla:

As a student of engineering, you should be aware that mathematical tools are usually employed to describe physical quantities and relationships between them. Calculus is a mathematical tool just as depreciation rate is.

That you're using "folds" instead of "rate" reflects poorly on you as a masters degree holder in engineering. You should be familiar with certain terms and use them appropriately.

You used arithmetic in describing your calculations first let me remind you. I'm shocked you're even trying to run away from the mathematics now.
All those other things you're trying to bring in show you're not conversant with the topic. Depreciation is what you were discussing when you brought in arithmetic but you used a fraudulent rate which is why I corrected you by giving you the formula for depreciation. If you want to bring in those other irrelevant factors into it, you're free to as long as you get the maths correct!

You clearly don’t know what you are talking about. I am on Nairaland, conversing with people from different educational background, why do I need to speak in engineering terms when I can converse in lay man term? No be Nairaland we dey? Abi you think say I dey class?

So if we are discussing about why drug abuse is bad, then replying to a doctor mean he will start explaining how it affect the neurotransmitters such as dopamine, serotonins that leads to cognitive impairment. OR I should just say drug abuse is bad.

Oga we no dey mathematic class so why do I need to start quoting equation to explain a simple thing?

When I told you to bring in other factors too, you see that you’ve been arguing nonsense since right?

predictor1:
And this is still 2015? Why didn't Jonathan take it back to #28?

.


Jonathan never used it to campaign or promise to return it to where he met it.


APC told us that N216 to a dollar was the worst thing to have ever happened to our naira, and they promised to make it better. We were even told that N1 would equal $1 by the change chanters, only to make it even more worthless.

Kukutenla:

No dummy. To convert 0.88 to percentage, you multiply by 100 which will give 88%.

I've been asking which school you attended because these are basic things anyone with average education should know

You claimed your 0.88 was a percentage. Now you are multiplying the percentage back by 100.
Keep hiding behind a finger, you dumb bag of sh.it.

You are an idiot. For naira to fall from 216 to 1200 is far far far above 100%! It has lost over 400% of its value. Not 88%. Which polytechnic did you drop out from?