LegendHero:


Oga, dollar to naira rate cannot be constant for 16 years straight in a country like Nigeria. Stop setting too much high expectation.

We need to produce at a rate not seen before to be even able to go head to head with the USD. Or maybe we should defend the naira with all the resources we have to keep it down to make you happy.

At some point, naira had more value than $$ until it started the downward trend. PDP almost did 8x increase.

You dey bother explaining economics to children of hate.

Lizzysamuel:


Don't mind the enemy of Nigeria.

He's happy that Naira climbed to 1900 from 216 in a space of 9years of APC. Imagine the most evil party PDP as they say, for 13 years kept Naira at 216 from 28 naira.

So the increase did not affect the economy under PDP? Na wah o ordinary economics una no sabi.

Finally Nigeria on the path to greatness.

A journey of one thousand miles begins with a step . We shall get there one day

Goodlady:

I sabi book pass you. From eye witness accounts, dollar was close to N100 as at 1999.

From my own eye witness, dollar was close to 2 naira in 1999.

Can you see how dummmb that sound?

Goodlady:

I sabi book pass you. From eye witness accounts, dollar was close to N100 as at 1999.

That was black market rate, Madam.

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.

188 is what percentage of 28?

Piigggs are grunting rubbish instead of them to be celebrating.

Bunch of pathetic sore losers!

Is the dollar being subsidized No!

Is there a N300+ gap between the official and parallel market? No!

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.

Olodo %increase

Goodlady:

I don't blv so. I v conducted researches

Give me the research you conducted on official rates. Somebody already posted proof up there that shows official rate was 22 naira. We all know black market rate was 88 naira then.

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.

You are not good at Mathematics at all. When it is about currency, you compare the difference by finding the out the percentages of the loss or gain in value.

216/28 = 7.7 That's almost 800% loss in value.
1200/216 = 5.5 That's 550% loss in value.

StOla:


It is not about difference but percentage.

That is almost 1000%.

Shame on you and PDP.

Don't mind the Olodo.

LegendHero:


From my own eye witness, dollar was close to 2 naira in 1999.

Can you see how dummmb that sound?

Cos you are dumb naa!
What are you even defending?
N22, N1200 as at 2024. All still a signal of a crumbled Nigerian economy.
So what's ya joy?
Oya eat cassava bread!

The tempo should be maintained pls.
Looking forward to when Naira exchanges for less than 500 to a Dollar.

morgstreme:


Juvenile.

The economy has been damaged since atleast 86'....you were obviously not yet born..

So you see things from your "keyhole" perspective...

Keep up with clamouring for you noncognitive perspective about how the economy was destroyed..

You should go back to school..

Or maybe start to get some knowledge by watching nickelodeon...

SMH...this one thinks he is talking to a teenager,nairaland and online big boys.

predictor1:
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?

That you don't know how to convert decimal to percentage shouldn't be blamed on me don't you think? It's primary school maths if memory serves me correctly so I don't expect anyone posing as educated to be spoon-fed on that fact.

Secondly, you need to read up depreciation rate. You're mixing up too many things

Nigeria hi better ones day 🙄🙄🙄

LegendHero:

Any doctor that is discussing on social media and quoting medical terms to explain simple analogy is simply a nuisance. If rate of depreciation is an economic term, then why don’t you also factor the variables of “Forex revenue of the government” in your rubbish economic terms? Why not bring the revenue PDP generate for 16 years and use that to infer which of them performed well since we have to check all economic metrics for a simple one sentence argument?




We are not calculating inflation rate initially. No one mentioned inflation, we were just comparing values without factoring it other metrics. The assumption is that all other factors are kept constant. Na you come with your diversionary tactics to turn the argument elsewhere.



Oga don’t tell me nonsense. Everybody can prove technical, if you can’t argue based on context, then your technical jargons mean nothing.


What calculations do I need to show? That PDP generated more $$ revenue than APC when you use your own time value of money? That Jonathan generated the highest amount of crude sales accruals? That PDP fail to improve infrastructure or diversify revenue to make Nigeria stop being an import dependent country? Abi what are the metrics affecting exchange rates in an economy like Nigeria?

I'm seriously beginning to doubt that you're a Masters degree holder. What technical term have I used that will be difficult for an average educated person to understand? Forex revenue is an extenuating factor that is not calculated into rate of depreciation. You're just showing your ignorance in a bid to sound intelligent. I gave you example of inflation and exchange rate and you still managed to turn it upside down.
What context are you arguing on? You're applying wrong maths and you're claiming context. Can you give a link to the formula you used for calculating exchange rate depreciation?
You're the one who made the claim of $$ revenue. Kindly substantiate it!

LegendHero:


Don’t mind these guys . Abi Wetin be him name no understand all these basic stuffs when trying to absolve PDP of blames.

There was a period oil price crashed below $20 compared to near steady $100 of Jonathan period coupled with Covid-19 slowdown and etc.

But they want us to just take it as isolated case as tho both PDP and APC both have the same $$ revenue arsenal to balance the exchange rate.

Again you've shown your poor knowledge and ability to understand. Your headline says 18 year low. The news is from 2020. That means the oil price fell to the rate it was in 2002. Is that not under PDP?

Anyway, so you don't go about deceiving yourself that you have a point, your claim about $$ revenue, which is actually a rehashed tale that was started by Buhari has already been debunked. Here are links below that you can read to see how false you're claim on $ revenue is. I'm pretty sure if you add Tinubu's revenue from oil, it will surprise you that APC have actually had higher oil price on average than PDP years. PDP were simply more prudent. Or is that calculation and research you're too mentally lazy to do that's making you regurgitate APC's false narratives that's been debunked multiple times

https://www.premiumtimesng.com/business/504571-buhari-repeats-false-claim-on-nigerias-oil-revenue-in-past-years.html?tztc=1

https://dailypost.ng/2018/05/24/fact-check-buhari-got-wrong-nigerias-oil-revenue/

LegendHero:


Oga, dollar to naira rate cannot be constant for 16 years straight in a country like Nigeria. Stop setting too much high expectation.

We need to produce at a rate not seen before to be even able to go head to head with the USD. Or maybe we should defend the naira with all the resources we have to keep it down to make you happy.

At some point, naira had more value than $$ until it started the downward trend. PDP almost did 8x increase.

APC and it's supporters like u did not realize this when u used it to campaign against pdp in 2015, now that u cannot even match performance of pdp u are coming u with all kinds of excuses.

Kukutenla:

I'm seriously beginning to doubt that you're a Masters degree holder. What technical term have I used that will be difficult for an average educated person to understand? Forex revenue is an extenuating factor that is not calculated into rate of depreciation. You're just showing your ignorance in a bid to sound intelligent. I gave you example of inflation and exchange rate and you still managed to turn it upside down.
What context are you arguing on? You're applying wrong maths and you're claiming context. Can you give a link to the formula you used for calculating exchange rate depreciation?
You're the one who made the claim of $$ revenue. Kindly substantiate it!

Wetin your doubt go do for me? Will it put $$ to my account?

Next time, you will understand argument context before delving into it. If you are going to take the argument to application of formular for this basic discussion, then bring all the parameters and use the same calculation to tell us the value of the forex PDP generated in their 16 years high and compare that to what APC generate so as to know who actually is better among the two parties.

You cannot choose to use calculation for the parameter that favors your argument and then ignore other factor that make the whole.

I should give you calculation to calculate depreciation? You no sabi use google abi you dey pay me for Nairaland lesson? See this one.

Kukutenla:

Again you've shown your poor knowledge and ability to understand. Your headline says 18 year low. The news is from 2020. That means the oil price fell to the rate it was in 2002. Is that not under PDP?

Below is the oil price chart. Looking at the trend alone, you will see that it fell in 2020 to that amount as reported by CNN. Yes, in 1999, it was also at that $24 and it rose from that point to a massive $109 at some point in 2012. Check the data, do you see that PDP deserve a curse for squandering all those huge revenues they generated?

Anyway, so you don't go about deceiving yourself that you have a point, your claim about $$ revenue, which is actually a rehashed tale that was started by Buhari has already been debunked. Here are links below that you can read to see how false you're claim on $ revenue is. I'm pretty sure if you add Tinubu's revenue from oil, it will surprise you that APC have actually had higher oil price on average than PDP years. PDP were simply more prudent. Or is that calculation and research you're too mentally lazy to do that's making you regurgitate APC's false narratives that's been debunked multiple times

I don't need a report to understand the $ value of crude oil revenue when it is an open information. Looking at the chart below, repeat the jargons about APC generating more than PDP again, let me hear. When you factor crude revenue, you will factor both crude price and the output per year to get the true picture.

Lol PDP prudent, e no go better for PDP. Even the crude oil output during PDP was so massive and at some point doing over 2million bpd steady coupled with that ridiculous price average, what did that useless party do with the money? Where are the infrastructure and where is the production?

See the 2015 average when Buhari took over, tat is $49
https://www.statista.com/statistics/262858/change-in-opec-crude-oil-prices-since-1960/

Now I can't blame you for being a pathological liar.

All APC urchnns are deceivers.

So lying is part of your DNA.

What I can blame you for is thinking that people that were changing naira to dollar in 1999 are not here.

We changed at N90 to a dollar on average in 1999.

And it rose to just over 200 before Buhari came in. 6yrs later

The same people that attacked PDP for something that was N200+ took it to N700+

Then the man that parted the Red Sea in Lagos took it to N1800 in just 10 months.

Now it has dropped to 1000 the same beasts and their captive followers are praising the fall.

LegendHero:


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

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.

This is a joke! Right?

Moving from 700/$1 to 1900/$1 and now retracing to 1100/$1. Is not naira gaining it’s still 400/$1 short pre BAT era.
Can we peg the Naira to a USD because using dollars to subsidize Naira is a terrible financial policy, only Nigeria uses Naira and Nigeria is an import dependent country.

Kukutenla:



That you don't know how to convert decimal to percentage shouldn't be blamed on me don't you think? It's primary school maths if memory serves me correctly so I don't expect anyone posing as educated to be spoon-fed on that fact.

Secondly, you need to read up depreciation rate. You're mixing up too many things

You don't know anything. You keep confusing yourself. You obviously don't know percentages can be in decimals as well. Your 0.88 was already a percentage according to you. To justify your nonsense you had to convert percentage to percentage again.

Should I work it for you to see that the naira has lost over 400% of it's value and not less than 1% you are erroneously pushing forward? You are the one mixing up many things. You are making a simple thing complex like the other guy said.
Take this quote from Einstein:

Any idiot can make things complex but it takes a touch of genius to go in the opposite direction.

Simplicity is a good thing.

maasoap:


You are not good at Mathematics at all. When it is about currency, you compare the difference by finding the out the percentages of the loss or gain in value.

216/28 = 7.7 That's almost 800% loss in value.
1200/216 = 5.5 That's 550% loss in value.

The same thing I told the idiot calling himself kukutenla who thought the naira lost only 88%.

VULCAN:
Now I can't blame you for being a pathological liar.

All APC urchnns are deceivers.

So lying is part of your DNA.

What I can blame you for is thinking that people that were changing naira to dollar in 1999 are not here.

We changed at N90 to a dollar on average in 1999.

And it rose to just over 200 before Buhari came in. 6yrs later

The same people that attacked PDP for something that was N200+ took it to N700+

Then the man that parted the Red Sea in Lagos took it to N1800 in just 10 months.

Now it has dropped to 1000 the same beasts and their captive followers are praising the fall.

We are not talking about black market rate here. If you had followed the conversation you would notice the guys were all working with the official rates at the time and now. Official rate then was #22.

Bluntguy:
Judging from where the Naira started plummeting to where it is now, it is not performing anything. I will agree with Bloomberg when it gets back to less than #800 per dollar.

Na God know watin damage una brain for this country o. People wey know money dey talk Hobo like you dey challenge them. Youths wey no get sense

Kukutenla:

Again you've shown your poor knowledge and ability to understand. Your headline says 18 year low. The news is from 2020. That means the oil price fell to the rate it was in 2002. Is that not under PDP?

Anyway, so you don't go about deceiving yourself that you have a point, your claim about $$ revenue, which is actually a rehashed tale that was started by Buhari has already been debunked. Here are links below that you can read to see how false you're claim on $ revenue is. I'm pretty sure if you add Tinubu's revenue from oil, it will surprise you that APC have actually had higher oil price on average than PDP years. PDP were simply more prudent. Or is that calculation and research you're too mentally lazy to do that's making you regurgitate APC's false narratives that's been debunked multiple times

https://www.premiumtimesng.com/business/504571-buhari-repeats-false-claim-on-nigerias-oil-revenue-in-past-years.html?tztc=1

https://dailypost.ng/2018/05/24/fact-check-buhari-got-wrong-nigerias-oil-revenue/

Your own links have killed you. You obviously didn't read it out of your usual laziness. There's nowhere in the links that suggests APC earned more on average than the PDP.

LegendHero:

Below is the oil price chart. Looking at the trend alone, you will see that it fell in 2020 to that amount as reported by CNN. Yes, in 1999, it was also at that $24 and it rose from that point to a massive $109 at some point in 2012. Check the data, do you see that PDP deserve a curse for squandering all those huge revenues they generated?


I don't need a report to understand the $ value of crude oil revenue when it is an open information. Looking at the chart below, repeat the jargons about APC generating more than PDP again, let me hear. When you factor crude revenue, you will factor both crude price and the output per year to get the true picture.

Lol PDP prudent, e no go better for PDP. Even the crude oil output during PDP was so massive and at some point doing over 2million bpd steady coupled with that ridiculous price average, what did that useless party do with the money? Where are the infrastructure and where is the production?

See the 2015 average when Buhari took over, tat is $49
https://www.statista.com/statistics/262858/change-in-opec-crude-oil-prices-since-1960/

He doesn't know how to read charts.

Yemi Cardoso is doing well. Some Nigerians are very brainy, most brainy Nigerians just lack opportunities to showcase their skills, they just dey their lane ni.