grandstar:


Wrong.

It was around 100.

The last time we daw it at 28 using the black market should have been between 1992-1993.

Official rate stood at 22-28 naira in 1999.

Congrats to the Naira...!

I pray for more progress in this nation's economy.

I wish Jagaban and his team massive success in all their efforts to better the nation.


Meanwhile, still waiting for prices of foodstuffs and commodities to follow this positive trend.

So, you are supporting PDP on this?

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.

May this news favour me and my family.

LegendHero:


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

#28 -#216= -#188 ( 16 years)

#216 - #1420 = - #1206 ( 9 years)

16 years - 9 years.....7 years remaining

I thought it was only Hausas and Fulanis that are daft and Zombies when following their leader .....
Never knew the kissing has passed saliva to Yorubas .....

Is a shame...we now know the real enemies of Nigeria

LegendHero:


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

That means in 16 years PDP removed N198 from the value of the naira

Meanwhile in 9 years APC has removed N1,016 from the value of the naira

At this rate, in the next 7 years, APC will have finished the naira kpatakpata

APC is a bloody locust

LegendHero:


Is your own naira at 1900 currently?

Abeg shey make I sell you my $$ for that rate? Make I Paste account.

Bros calculate first na.

From 194 to 1900 in 8 years. Let's say it is 1,100 presently, how can you justify that?

How can you justify a bag of rice from 8k in 2015 to 80,000 after eight years?

Make una dey get small shame.

LegendHero:


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

N23 naira in 1999

LegendHero:
Kudos to Yemi Cardoso.

According to Bloomberg, Naira is the best performing currency in the world for the month of April.

Cardoso should fire on until it comes to a record low. Wale Edun should step up his game on the fiscal side too to complement the monetary side.

To the saboteurs who are shouting “Keep your dollar close”, you will suffer for 1000 years when that dollar in your hand become worthless because the value has decrease 100% of what you got it.

Frankly speaking, a Dollar value below 1,000 would give me jitters.

Are there sufficient dollars to defend such a rate? The foreign reserves have fallen by over $700m in the last 10 days.

Tinubu score card. What a mistake on Nigeria.

Some people right now.

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.

Bloomberg isn't engaging NUMBSKULLS like you that don't understand basic financial numbers...

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.

Is it only agbado they feed u guys abi dey are mixing some crack shit because you guys are irredemable.

Friends Jesus Christ loves y'all and he want you to accept him as your personal lord and saviour by giving your life to Christ, believing in him and repenting of your sins.remember tomorrow might be too late. Shalom

Great news.

LegendHero:


Official rate stood at 22-28 naira in 1999.

Not true.

It was at least N80.

Ofunaofu:


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

N20.8 to a dollar where the PDP met it as at 1999..

LegendHero:


I showed you confirmed US government source link, you’re sharing some nobody post on Twitter.

I can also go on Twitter and post it is $1 = N2, will you now say it’s the truth?

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

What are you posting sef. Let say it was exchanged at that rate, the question is. Was it uniform throughout that year?

predictor1:
How? In the past government supported the naira with as much as $20bn In a single financial year only for bankers to take dollars to the black market and make huge profits. Now even the black market rate is lower than official rate. Removing subsidies will actually help Nigeria's economy and future better than leaving the huge subsidy regimes in place.

In Argentina today they're crying as inflation is 270% and they devalue their currency almost every month. Prices of basic goods increase by the hour. The same mistake Nigeria made for years was what they made too: crazy subsidies and not floating their currency. You should thank God for Tinubu.

If Argentina is too far you might want to check out Iran and Lebanon. Iran has the world's second largest oil reserves. They subsidized madly like Nigeria from fuels to cooking oil and sugar. Today those same subsidies have messed up their economy and led to shortages. Today in Iran fuel is being rationed. There's a limit to how much fuel you can buy in a week. You are given a ration card. Is that what you want for Nigeria

Or you want to try Lebanon where their currency has fallen to 89,000 Lebanese pound to a dollar due to unbridled subsidies like Nigeria before Tinubu?

I can go on and on but time will not permit me. Just know this: no one destroyed Nigeria in recent times as badly as Jonathan and Buhari. Jonathan was even a bit better because Okonjo advised him to stop the subsidies and he wanted to but he allowed the likes of Tinubu to bully him. Bihari was a total disaster.

Tell them. Even the 1 naira to 1 dollar in the 1980’s Nigerians love to boast about was a subsidy of the official market where the black market was 4 naira to the dollar (4 times the official market). Abacha also held the official market at 22 naira throughout his tenure with black market at around 88 naira (again 4 times the official market). Same mistake Zimbabwe made in the history of their currencies. Tinubu and Cardoso on the other hand had the guts to devalue the official market twice. First from 450 to 750, then again from 900 to 1400.

LegendHero:


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

PDP actually met it at N20.80k..

LegendHero:


Your attempt at sarcasm failed because you don’t understand basic arithmetic.

—PDP did almost 8x
—APC as at now are still 6x

You either condemn both or applaud both. You can’t use selective appraisal.

It is you who is poor at maths

You used 28 as the multiplying factor to get x8 for PDP

Then you used 216 as multiplying factor to arrive at x6 for APC

Why didn't you maintain the 28 as multiplying factor?

How did you pass WAEC?

You only proved that APC deteriorated naira at a geometric rate of 216/28 compared to PDP's arithmetic rate of 28

That's besides the fact that your N28 at 1999 is a lie

LegendHero:


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

You can deceive your followers who are not well enlightened.....

Dollar rate as of 1997-2000 was between #84-#105

Must you lie to be like your Master? You people are heartless ....lols

See who APC is grooming for the society.....

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!

That's not how it's is calculated...how smart can you be..

Percentile rates is what is applied..

Chai..

See as you wan expose your parents..

LegendHero:


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

Must you spew rubbish? Where were you 1999 to know dollar was ₦85-90 to a dollar? PDP kept dollar and pounds relatively stable for 16 years. Pounds was between 180 - 250 in all 16 years. Dollar was between 90 to 150, it was only during the normal election shenanigance from politicians it rose to 200 of which after elections and it was expected return back after beneficiaries of the largesse unloaded their forex loot.
How can you in all responsibilty compare 80 to even 200 to $1(PDP) , to 200 to 1300 for goodness sake?
Oga, 2000, I got contract from FAAN, of which I imported the products from UK in pounds, the exchange rate was ₦190 to a pound.

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.

₦800 is still too much.

StOla:


It is not about difference but percentage.

That is almost 1000%.

Shame on you and PDP.

Percentage of what? You APC bots are actually a bunch of dullards

No wonder you asslick failures in govt

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.

I don't want to believe you are basically literate...

See the okpo!

🤣

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.

There has to be accompanying local production of all categories of fuel for that to happen which, thankfully, is coning into gear with Dangote Refinery,the Edo refinery and Portharcourt Refinery etc..

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 intelligent at all. It's percentage increase in both era you will calculate and compare.

Ofunaofu:


So because of that, APC crashed it and made it worthless by taking it to N1,900 to a dollar

Answer the question and stop being moronically confused in the brain..

Kukutenla:

It is you who is poor at maths

You used 28 as the multiplying factor to get x8 for PDP

Then you used 216 as multiplying factor to arrive at x6 for APC

Why didn't you maintain the 28 as multiplying factor?

How did you pass WAEC?

You only proved that APC deteriorated naira at a geometric rate of 216/28 compared to PDP's arithmetic rate of 28

That's besides the fact that your N28 at 1999 is a lie

—If PDP took it from 28 to 216, that’s like 7.7x which is approx 8x. Meaning 8fold.

—If APC took it from 218 to 1200, that’s like 5.5x, which is approx 6x. It means 6 fold.

You should probably use your brain when responding so you can understand post before jumping to talk. By the way, I got my masters in Engineering in USA, maybe you can tell me your qualifications and level of education.

Lastly, my argument of 28 was based on the USA official report on their government website that placed official annual average dollar rate to 22 in 1998.

Oya show me your own rate in 1999 that said it’s over N80 for official rate.

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

Dollar-Naira Exchange Rate from 1997 to date (Black Market Rate.) 1997 $1 = N84. 58 1998 $1 = N84. 70 1999 $1 = N88-N90 (PDP) 2000 $1 = N105.