MXrep:

The hailers are already hailing

And the wailers are already wailing

Let me not add to this vawulence

Afriifa:
Is simple, although he may not get the exact arithmetic but his submissions are not far from what is visible in public. A rise in dollar to naira automatically communicates a fall in the value of the Naira and by extension a fall in what you have in your bank account. This is because Nigeria is an import dependent state. Meaning, in such an event, you may need to trade more naira for a dollar in other to be able to acquire the same items that you had previously acquired in the previous state. Take for a an example, you wanted to purchase a foreign item on Aliexpress at the fee of say $56, you add the iterm to ur cart when a dollar to naira equaled 500 naira. Thus, $56 equals to 56×500= 28,000 naira. Meaning ur planned budget was 28,000 naira for the item. With the recent development it means the Naira as depreciated against the dollar that's why people like Dangotte as lost more wealth.. This means dat dollar rate must ve risen to 600-700 naira. In this event, the item you had in mind will be sold for 36,600-39,200.. So if you had 200k in ur bank account prior to this incident, using the hypothetical rate calculated above, ur the value of ur 200k now should be around 142k in the foreign market.. N there is no way this will not reflect in the local market in the long run, because we virtually import a lot if not finished goods, raw materials.

I understand what you are saying...but the official dollar rate as of now will have minimum effect on the people. It in report that 75% of Nigeria importers source their forex from black market which is very high even more than the official rate of now. So this policy will definitely not have much negative effect after all.


For the bold...majority of Nigerians do not make purchase online infact I'll say 70% of Nigerians don't do it..And for those who do, they don't get it at cheap rate like the official at rate then. So no need to worry about the money in your account, our PPP as of now is still stable.

.

Nice one....no more defending the naira, let the market do it thing.




Cc Starz825

EcoBrick:



https://www.youtube.com/watch?v=fhMe_tNcp9k

This guyz think Cyprus is heaven..... E go soon red f4 dem

Starz825:


Now your are wrong...

you are looking at the book value of your money...

those guys you are criticizing are talking about the time value of your money.....

for example...if I lend you 1m in 2010 for 13 years without interest...and then in 2023....
you pay back my 1m ...you can never compare the present time value of 1m to that of 2010...


I could build a 3 bedroom flat with 1m in 2010'..but I can't achieve same feat in 2023 with 1m because things are now expensive...

that's why during inflation, the debtors gain more...while during deflation, the creditors gain more

The naira have been losing value since time....the fix exchange rate have limited effective on the life of average citizens.

Large chunk of our imports are price using the black market rate which is higher than the CBN rate... despite the so called defending nonsense by the apex bank. The value will adjust itself according to the market... time to know the real state of our economy.

Starz825:


however, if the dollar rate goes high against your local currency (naira)....it reduces the value of your local currency thereby increasing the cost of production when you go to the market with your naira .......cos manufacturers import most of their raw materials via dollar payment

only people who have money in dollar will gain from the dollar exploit

Do you know that majority of importers in Nigeria purchase dollar from the black market? Which could go as high as 790 to 800.

The fix rate as of today is 600+... which is ok.

LegendHero:


Source: https://twitter.com/yelesowore/status/1669614018242174977?s=46&t=oGAxjhiGeufNKlYA6fDTyA

Nooooooooo

It my idea that Tinubu stole...... I'm going to court for this..






Clowns

If she meet the requirements...then well deserved.





And congrats in advance.

Afriifa:
He is not wrong. I am speaking as an Economist.

Ok...
What is right about the nonsense he wrote?

How does dollar rate affects my bank account in Nigeria?

How does my 500,000 reduce to 300,000 in my first bank account cuz of dollar rate?

jmoore:


Micheal Dell, Mark Zuckerberg, Bill Gates, Richard Branson were dropouts.

They don't rush to comment or blab about what they know nothing about.

jmoore:


Upload your certificate, so we can know the university you cheated to pass.

Post my cert to prove what exactly?

jmoore:


Dropout is not synonymous with lack of intelligence. You need to start all over from primary school.

Lack of intelligence is when you don't know when to shut up about things you know nothing about.

Obi-dundi followers are always bitter...like why?





Fools who failed economics in school coming to tell us how this policy is bad

jmoore:
Some people don't get the picture. It means naira is losing value.

That 500,000 naira in your account on May 29th this year is now worth around 300,000 naira and would reduce further.

If you think your own value has not reduced too, then you have been deceived.

The bold shows you are a school dropout

niyisky:
Afrobeat... kudos to both old and new cats 🐈 😻

Davido got me laughing with the new cat tag

Alfo65:
The guy went around predominantly the western part of Nigeria and parts of the North.
He went to the biggest cities there, the ones that were no doubt constantly hyped to him prior to visiting as some of the most 'developed' areas in Nigeria.

Only to actually arrive there and see not even cities but 'slums that seemed to sprawl eternally in every direction'.

Dumb homo's like you always take a white man opinion important...

Nigerfine3:

What nigeria call beauty in a city is not what oyibo calls beauty.
They want to see trees by the way sides and around houses, they want a walk way.
Trees are planted more in Eastern cities,than any others I visited before.
I live in Texas ( I'm not guessing).

Texas...you are a potential pyschopath.



Caliibaby rocks.

Shiver99:

Source l url: https://biafraspot.com/threads/american-traveler-exposes-nigerias-embarrassing-condition.127/

American tourist spends 12 days travelling around Northern and Western Nigeria and reports the cold truth.

Opinion of an social media nonentity.

Akpabio is coming....

Op is high on horseshit.....

EnlightenedUFO:


Even his former ag Bill Barr, one of the worst and partisan Ag ever says criminal trump will likely die in jail. I've read the indictments and boy oh boy, there's just no way criminal trump will get out of 31 counts!

I thought it 34 counts.....anyways let see what happens.

KingOfIsoko1:
Ehnnnn Democracy day is today ooo,


About 30yrs ago between Aug-November, 1993 Ernest Shonekan was Nigeria’s leader for 3 months.


30 years on, another Yoruba man is on the saddle arising from a dubious election while an Igbo man is in court challenging the process and the outcome.

Will history repeat itself?

57 years ago a fl*th*ead pig from sadeast used just 6 months in office before getting the 6feet gift underground.


What says ya?

God!!!

Iyt a waste of time educating naysayers on this thread.

I see wailers on this thread.

helinues:
The patterns which the oppositions in Nigeria displayed all through 8 years of Buhari, they have started same this time.

Former president Buhari was accused of planning to Islamitize Nigeria, we have been reading same about president Tinubu planning to Yorubanize Nigeria.

If Buhari can be replaced with one Jubril from Sudan, then same fate awaits his Excellency Bola Tinubu.

The question is, who would president Tinubu be replaced with?

Miguna from Kenya
Kofi from Ghana
Or Saotope from Benin Republic?

No need of wasting any money to watch Cinema, the Nigeria oppositions would entertain us for free.

I predict Abu Sadiq Alhawi from Somali

EnlightenedUFO:


Ok now I get what you're saying. Yeah, they are just treating him like a child. But things are getting way dangerous now, I guess it's time they lock him up or throw him down the Grand Canyon.

I wonder what his defense will be this time...it will be a shameful thing if he gets away with this...

EnlightenedUFO:


What are you trying to say? The trials haven't started yet, right?

He has been indicted before...now making it twice. Man was given a chance to return those documents...but refused cause he felt he'd get away with it.

EnlightenedUFO:
Damn criminal trump is going to jail.
The Indictment is explosive. wow!

The justice system seem to be lenient towards him.

Obrigardo:


Dumb bïtch ass

Shot thy leg fr thy enemy....so saith Trump. 😁

I piss in Canada... noth-in special. 😁

SenatePresdo:


They get arrested because the producers jumped Food and Drugs control, such as NAFDAC as we have it in Nigeria.

They should take their drugs to food and drugs Governing Body, if they deem it safe for the body, nobody will be arrested for using such hard drugs.


So how does being gay equate to use of Hard drugs?

So you think NAFDAC will give a go ahead for meth consumption?

Sucre6:


Omo, the guy use to make sense with his thread and he had my respect, but now omo, the guy don disappoint me, jeez, i don't care about your sexuality but even God himself created penis and Vagina for a reason, you op must be the PRO of gay people in Nigeria, better warn all those gay ass people disturbing my Facebook dm before I send thunder kill una, rubbish 😒😒😒

Imagine been under or ontop of a fellow man whispering baby sliently... 🤔fckin disgusting and unnatural.