LegendHero:


—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

When you were doing your Master in USA they did not teach you how to calculate progression abi?

If you are going to use the official exchange rate of 22 at 1999, then you need to be aware that the official exchange rate in 2015 was 199 and not 216. 216 was the parallel rate. Meanwhile official rate today is at 1200

To calculate the rate of depreciation in a currency over a period of time, you remove the current value from the initial value and divide by the current value to get your rate of depreciation. If you apply that formula, you will find that both PDP (0.88) and APC(0.83) are close in terms of depreciation. However, if you spread it over the number of years both have spent in power, PDP gets 0.055 per year while 0.092 per year. Thus it is easy to see that APC has devalued the naira at twice the rate of PDP per year. So which is worse now?

Also, in nominal terms which is the number of units of a currency required to purchase another, it is obvious APC is far worse. 22 to 199 is simple 177 while 199 to 1200 is a whopping 1001 nominal decrease in naira value. The nominal rate is the real rate that affects trade against other currencies as you should be aware with your Masters degree

I hope you can understand the calculations instead of brandishing one empty Masters degree. And i wonder when Masters became something to brag with. You know how many dullards even hold a PhD. Did you lots not call Jonathan clueless while he possessed a PhD?

LegendHero:


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

then your party damaged it to over #1000,no shame at all. That was how you lots praised tinubu predecessor's incompetence. I know the president is just doing his best to turn things around because of the damaged done from 2015 to 2023.

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.

Mathematical reasoning is far from you. Common percentage/ratio, you can not do!

Dbegining:


Mr. Man, the naira is sill defended. The only difference now is that the CBN is selling directly to BDC's at a subsidized rate. That's why the black market rate is same with the official rate. And that's also why out foreign reserves has been depleting the past few days.

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?

Kukutenla:

When you were doing your Master in USA they did not teach you how to calculate progression abi?

If you are going to use the official exchange rate of 22 at 1999, then you need to be aware that the official exchange rate in 2015 was 199 and not 216. 216 was the parallel rate. Meanwhile official rate today is at 1200

To calculate the rate of depreciation in a currency over a period of time, you remove the current value from the initial value and divide by the current value to get your rate of depreciation. If you apply that formula, you will find that both PDP (0.88) and APC(0.83) are close in terms of depreciation. However, if you spread it over the number of years both have spent in power, PDP gets 0.055 per year while 0.092 per year. Thus it is easy to see that APC has devalued the naira at twice the rate of PDP per year. So which is worse now?

I hope you can understand the calculations instead of brandishing one empty Masters degree. And i wonder when Masters became something to brag with. You know how many dullards even hold a PhD. Did you lots not call Jonathan clueless while he possessed a PhD?

ignore that sycophant,how can he compare 16 years of pdp to buhari administration infact buhari administration was a disaster. This administration is trying hard not to expose the extent of the damage.....

Kukutenla:

When you were doing your Master in USA they did not teach you how to calculate progression abi?

If you are going to use the official exchange rate of 22 at 1999, then you need to be aware that the official exchange rate in 2015 was 199 and not 216. 216 was the parallel rate. Meanwhile official rate today is at 1200

To calculate the rate of depreciation in a currency over a period of time, you remove the current value from the initial value and divide by the current value to get your rate of depreciation. If you apply that formula, you will find that both PDP (0.88) and APC(0.83) are close in terms of depreciation. However, if you spread it over the number of years both have spent in power, PDP gets 0.055 per year while 0.092 per year. Thus it is easy to see that APC has devalued the naira at twice the rate of PDP per year. So which is worse now?

I hope you can understand the calculations instead of brandishing one empty Masters degree. And i wonder when Masters became something to brag with. You know how many dullards even hold a PhD. Did you lots not call Jonathan clueless while he possessed a PhD?

You have to divide by the initial value not present value. That's why when you are doing loss% and profit% in primary school, cost price is always at the bottom because cost price is the first or initial value and not selling price.

richie240:
Good news!
God bless Nigeria and Nigerians!


You better change the dollazz u are hugging like teddy bear to naira now to avoid stories that touch.
Nor say I nor warn you o.

that one don touch dollar b4

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 just don’t understand them. What has been given to BDC’s so far shouldn’t even be more than 60 million dollars yet, and as at when Cardoso announced he has paid the last backlog of 1.5 Billion dollars on March 18, the reserves began to plummet to probably account for it. So why they think the reserves was only used to stabilise naira, I don’t know.

predictor1:
You have to divide by the initial value not present value. That's why when you are doing loss% and profit% in primary school, cost price is always at the bottom because cost price is the first or initial value and not selling price.

You are a dullard. Go and learn how to calculate rate of depreciation and stop disgracing yourself!

GeneralDae:

I just don’t understand them. What has been given to BDC’s so far shouldn’t even be more than 60 million dollars yet, and as at when Cardoso announced he has paid the last backlog of 1.5 Billion dollars on March 18, the reserves began to plummet to probably account for it. So why they think the reserves was only used to stabilise naira, I don’t know.

It's exasperating trying to point things out to them. How will a sane human being believe that $1.2bn was given to bdcs in 18weeks?

Kukutenla:


You are a dullard. Go and learn how to calculate rate of depreciation and stop disgracing yourself!

It's always over the original value, you monkey. Tell your 10 year old daughter to teach you. If you do it your way you will end up with a negative value.

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.

Kolo kolo
Kolom3#t@l

LegendHero:


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

28? How old are you ? Were you born in 2000s?

That’s around 89 naira pdp met it. Then in 2000 around 105 or so, clam down, pdp might not be saint, but they did a lot to hold it together. The three president from pdp were lots more smart economically then the two apc. No beef, I no be party member. But they were lots more smarter, the take decisions after analysis, meetings. Not just take irrational decisions and actions like the apc presidents. How on earth did you remove subsidy on day of inauguration. Without proper consulting, looking at the insights, read the dashboard and report.

We all want a better Nigeria, just like Lee and Deng gave Singapore and China respectively. We want that. Blackman is just not ready. During slave trade, we traded ourselves to the whites, we still do, take an example of Niger country. They have the resources, France is giving them aid.

Also tinubu government is defending the dollar seriously to impress the masses. I pray and pray it last, because it is against our foreign reserves.

These people hyping us know what they are up to.

Kukutenla:

When you were doing your Master in USA they did not teach you how to calculate progression abi?

If you are going to use the official exchange rate of 22 at 1999, then you need to be aware that the official exchange rate in 2015 was 199 and not 216. 216 was the parallel rate. Meanwhile official rate today is at 1200

To calculate the rate of depreciation in a currency over a period of time, you remove the current value from the initial value and divide by the current value to get your rate of depreciation. If you apply that formula, you will find that both PDP (0.88) and APC(0.83) are close in terms of depreciation. However, if you spread it over the number of years both have spent in power, PDP gets 0.055 per year while 0.092 per year. Thus it is easy to see that APC has devalued the naira at twice the rate of PDP per year. So which is worse now?

Also, in nominal terms which is the number of units of a currency required to purchase another, it is obvious APC is far worse. 22 to 199 is simple 177 while 199 to 1200 is a whopping 1001 nominal decrease in naira value. The nominal rate is the real rate that affects trade against other currencies as you should be aware with your Masters degree

I hope you can understand the calculations instead of brandishing one empty Masters degree. And i wonder when Masters became something to brag with. You know how many dullards even hold a PhD. Did you lots not call Jonathan clueless while he possessed a PhD?

Thank you.

LegendHero:


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

Are you using pdp's failure to justify apc wickedness and bigger failures?

tegrianonigltd:


28? How old are you ? Were you born in 2000s?

That’s around 89 naira pdp met it. Then in 2000 around 105 or so, clam down, pdp might not be saint, but they did a lot to hold it together. The three president from pdp were lots more smart economically then the two apc. No beef, I no be party member. But they were lots more smarter, the take decisions after analysis, meetings. Not just take irrational decisions and actions like the apc presidents. How on earth did you remove subsidy on day of inauguration. Without proper consulting, looking at the insights, read the dashboard and report.

We all want a better Nigeria, just like Lee and Deng gave Singapore and China respectively. We want that. Blackman is just not ready. During slave trade, we traded ourselves to the whites, we still do, take an example of Niger country. They have the resources, France is giving them aid.

Also tinubu government is defending the dollar seriously to impress the masses. I pray and pray it last, because it is against our foreign reserves.

These people hyping us know what they are up to.

It was even #22 official rate. You are quoting black market rate of #98.

Tilumbu is the best president ever!

Congratulations to the finance team.Hope, lessons are learnt on never to let the forces of a willing buyer and willing seller,in other words black market,determine the exchange rate of your currency.Also,not to rely on the forces of demand and supply to determine our currency,since our economy isn't that robust.Nonetheless,prices of basic commodities are still very high.Hope,we begin to see some cuts or reduction on that too as a result.

morgstreme:


You this empty Barrel,the leap during the PDP days is much worse than the APC years because of the rates are in percentiles but you don't want to learn and emancipate yourself from being an Olodo..

Besides the irresponsibility of the PDP that started the clamour for the removal of fuel subsidy,even during the OBJ years,is what led us as a nation to where we are now trying to mitigate..

But you kids don't read,don't get "scientific" about the important thing in your nation but run ahead with news headlines concerning Bobrisky and the phantom heroics of Peter "him Tu Lie" Obi..

what the hell are you talking about,is it because tinubu administration is keeping the scandals from blowing out from buhari administration looting and economy sabotage even the same alies from the north is scheming against the president because of power,the same group of idiots that damaged our economy.

predictor1:
It's always over the original value, you monkey. Tell your 10 year old daughter to teach you. If you do it your way you will end up with a negative value.

And depreciation is positive abi

Which school did you attend?

Kukutenla:

When you were doing your Master in USA they did not teach you how to calculate progression abi?

If you are going to use the official exchange rate of 22 at 1999, then you need to be aware that the official exchange rate in 2015 was 199 and not 216. 216 was the parallel rate. Meanwhile official rate today is at 1200

To calculate the rate of depreciation in a currency over a period of time, you remove the current value from the initial value and divide by the current value to get your rate of depreciation. If you apply that formula, you will find that both PDP (0.88) and APC(0.83) are close in terms of depreciation. However, if you spread it over the number of years both have spent in power, PDP gets 0.055 per year while 0.092 per year. Thus it is easy to see that APC has devalued the naira at twice the rate of PDP per year. So which is worse now?

Also, in nominal terms which is the number of units of a currency required to purchase another, it is obvious APC is far worse. 22 to 199 is simple 177 while 199 to 1200 is a whopping 1001 nominal decrease in naira value. The nominal rate is the real rate that affects trade against other currencies as you should be aware with your Masters degree

I hope you can understand the calculations instead of brandishing one empty Masters degree. And i wonder when Masters became something to brag with. You know how many dullards even hold a PhD. Did you lots not call Jonathan clueless while he possessed a PhD?

Use your brain brother, it’s kept there to be used.

The reason I used N216 was because the person I quoted mentioned that and I just used the numbers. Now tell me the significant difference between 199 and 216 to affect my calculations. If 216 makes 8 folds, 199 will also dangle within 7-8 folds, so what are you talking about.

To your second point, don’t me a dullard. We are using term to compare and not actual time. The lady mentioned PDP met it at a value and APC term is still on and at this point is what we will use as our numbers. No one is asking for depreciation calculation. What gives you the assurance that it will be a linear progression? What if by the end of APC tenure (let’s say in 8 years time to make 16), they take the value down to N300? No law tells us the naira rate will always progress linearly.

The rest of your calculation are jargons because while trying to sound wise, you’re taking the argument to another context. What we are discussing is simple exchange rate fold increase per political party reign.

For my masters, I inserted that because of the nonsense you first quoted. You should tell us your own qualification instead of using Jonathan as a straw man.

Ofunaofu:


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

APC is your problem? Where did PDP met it, If party is the problem , PDP is the biggest error.

tegrianonigltd:


28? How old are you ? Were you born in 2000s?

That’s around 89 naira pdp met it. Then in 2000 around 105 or so, clam down, pdp might not be saint, but they did a lot to hold it together. The three president from pdp were lots more smart economically then the two apc. No beef, I no be party member. But they were lots more smarter, the take decisions after analysis, meetings. Not just take irrational decisions and actions like the apc presidents. How on earth did you remove subsidy on day of inauguration. Without proper consulting, looking at the insights, read the dashboard and report.

We all want a better Nigeria, just like Lee and Deng gave Singapore and China respectively. We want that. Blackman is just not ready. During slave trade, we traded ourselves to the whites, we still do, take an example of Niger country. They have the resources, France is giving them aid.

Also tinubu government is defending the dollar seriously to impress the masses. I pray and pray it last, because it is against our foreign reserves.

These people hyping us know what they are up to.

So you have to be born in 1988 to know the value of a currency in 1999 when you have multiple sources online that can confirm same?

I have given my own evidence of the official exchange rate at 22-28 in 1999, bring your own evidence stating otherwise.

I am waiting!

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.

The #800 you consider default was it the price Buhari met, need i remind you as at 2015 $1/220 and was not even the price GEJ bet

That naira as not come down to the specific price you want doesnt negate Naira appreciated .. 1900 to 1200, 700h differences under one month is worth commendation

predictor1:
It was even #22 official rate. You are quoting black market rate of #98.

Official rate and black market rate no difference now na. We allow politics to divide us instead to unite us. Because of party affiliation and tribe, we can’t tell some people say them dey do wrong. Pdp were not too sound, but apc came and its blackout for now. Forget politics. Criticism is good. Apc did against pdp.

At the end. Me and you, with them, everyone want a better Nigeria. Make we talk truth. If Nigeria be like them Singapore and China now, great system. Everything like 85-90 percent working. We will all be happy innit?

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.

Don't forget that Na when your Igbo brother, from the dot in the circle region the educated illiterate thief called Emefiele became CBN Governor under Jonathan and Buhari it rose From 216 to 1000 naira to a USD. He opened the CBN vaults to greedy BDC to start selling at cut neck rates and stole as much as he could too. Una no see Emefiele blame na Cardozo una dey blame cos no be una tribe. Yeye tribalists.... When Emefiele was there and naira was falling yakata, it was not Emefiele fault, but now that Cardozo is there , naira losing value, it is definitely Cardozo's fault. Ewure!

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.

but they didn t kept it to the same amount why ?

LegendHero:


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

Da one no concern anybody. Make APC return am to N216, biko.

blamingthedevil:


Why are you crying over goodnews for your country?

Oga she told u the bitter truth. FG is currently defending the naira, that's why naira to dollar exchange is gradually coming down.

Had it been FG left the naira to slug it out with dollar in the open market, as they had planned, we should be seeing N3k to 1dollar by now.

That's good news

I refused to see this as good news.
We are only playing a football game with bear toes

Kukutenla:


And depreciation is positive abi

Which school did you attend?

And these values you got here are negative in your eyes, Olodo?

[quote author=Kukutenla post=129404321]
If you apply that formula, you will find that both
PDP (0.88) and APC(0.83) are close in terms of depreciation

Abi you want to tell us 0.88 has the same value as - 0.88?