A currency's value is what is can fetch those who use it as a means of exchange!
Those in America use dollars and those in the UK use pounds sterling. Emiratis use Dirhams and Indians Rupees. Nigerians therefore use the Naira.
The Naira today, is equivalent to 600 units to the GB£ and 500 units to the US$.
Though we are quick to lampoon the Naira as worthless, but let us compare how much value each of these currencies equivalents fetch their owners/holders, within their borders?
In the US, a dollar ($) may not buy you more than a small bottle of water, while N500 will buy you a pack of 12 of the same bottles of water in Nigeria!
A pound (GB£) may not buy you even a small loaf of bread in London, but in Lagos, N600 will buy you and your partner, breakfast for 2, consisting of one N250 big loaf of bread, 4 fried eggs and 2 bottles of water!
Days ago, I bought 50 pieces of medium sized oranges from the Ketu fruit market for N1,000, that's just $2! I bought 3 pineapples for N500 ($1)!
A litre of fuel costs N160 in Lagos, but cost $0.86 (N430) in New York! While I know people who pay cad1,700 (N500,000) per month for their glorified room and parlour self-contained in Ottawa, that is what a friend pays in 6 months, for a 2 bedroom apartment, with separate toilet, bathroom and proper kitchen, in Dolphin Estate, Ikoyi!
So why do Nigerians make so much noise over the value of their currency, when it still fetches them more value than the other currencies that they pitch the Naira against? The answer is simple: the "values" of Nigerians!
While Nigerians reacted with consternation at Dino Melaye's obnoxious display of his stolen wealth, the average Nigerian behaves exactly like Dino Melaye! From the man on the streets to the Churchpreneurs who claim to represent God!
They produce nothing, but want to flaunt everything!
Someone lamented to me about his wife's tenant, who has failed to pay N120,000 rent, for nearly a year, but slaughtered a ram and made festivities, worth N150,000, during the last Moslem "Ileya" festival! Ask me what the man produces? Zilch!
Had this same debtor taken the N150,000, wasted on the one day feasting to the market, it will be more than enough to set up a fried Yam, sweet potatoes, Akara business, that can net him N300,000 monthly, and take him out of poverty and debt forever!
So, because Nigerians are unproductive at home, but consume from used clothes, to fake hair and eye lashes, to even PMS, from the abroad, they keep whining about the value of the dollar/pound-sterling against their currency.
There are universities in Nigeria, and I had my education entirely in Nigeria! So, if I chose to send my children abroad, what is the headache of the government in my personal decision, should the currency in their country of choice proves unaffordable to me? Who send me?
My personal definition of the problem with Nigeria is that, the policies of the State are manipulated to suit the indulgences of certain classes of Nigerians, who feed fat on the miseries of the masses.
Government resorted to importing fuel because some privileged Nigerians criminally destroyed our refining capacities. Rather than punish them, we put the punishment on Nigerians.
Government "subsidized" the same imported fuel, to create artificial opportunities for some privileged people to loot our treasury, under the artificially created system of "subsidies".
These Nigerians and their fraudulent economists should stop fooling themselves about the poor exchange rates of the nation's currency. 95% of the citizens of this country need food, water, Medicare, etc, obtainable in Naira!
If some useless, lecherous and unproductive, yet entitled, vanity flaunting elements like Dino Melaye, need foreign currencies to feed their insanity, what has that got to do with Nigeria?
If you want to indulge in the zero nutrition Orange, imported from wherever and sold at times ten that of super tasting Oranges from Benue, must Nigeria care about your price plight? Who send you?
If you chose Pizza over Aboki freshly cooked spicy bread and eggs, please find enough Naira to indulge in your borrowed Italian taste. #KokanAye!
This argument over our poor currency is a lie of the elite to pass their problems as everyone's!
Days ago, I made a 4 litre bowl of cooked beans (enough to feed at least 8 adults) from a N200 ($0:40) measure of beans! Add another N500 ($1) worth of sweet potatoes, and you have a super nutritious meal for 8 adults!
That's less than $3 in total, N1,500 (including the costs of other stuff like onions, peppers and oil), to feed 8 adults?
Before you complain that the Naira is weak, tell me what you need the foreign currencies for, and #Eruobodo will show you how you and Dino Melaye are related!
In a viral video trending online, a beautiful lady can be seen dancing and having fun win her little daughter. The beautiful mom, from my observation. After watching the video, was seen tweaking and at the same time showing her little princess the act of twerk g seductively. Ladies and gentle men of the 21st century, what do you think ?
A video trending online shows how a Nigeria man proposed to his girl friend onboard an international flight....... if she say No, na to throw are commot for plain. Abi...?
Gods day ladies and gentle men of Nairaland. Our Nigerian artist are making themselves proud. Burna Boy 'Twice as tall' is breaking grounds internationally and not juts locally. After one month of the album realise. According to NEW YORK TIMES, It as over 175.3 million streams and it's the number one album in 59 countries all over the world. Without much hyping, the album is speaking for it self. Watch the video below.
They is a video currently trending online. It shows a group of men catching cruise by the sea side with dangerous sharks. From the sound and tone of their voice, they sound like the Arabians. Watch the video below. Please don't forget to like, subscribe and share with friends. Thanks.
Yobabad: The killing of this man is not justifiable, why kill him when you can arrest him. If we call the shithole a zoo now it will look as if we are lieing
You will be the first to criticize fedral govt for not killing bandit. What is special about gana? What of the thousands of people that he killed already ?
I love them both. This is how life should be. Two jolly good fellows becoming HOD and assistant HOD. This week go sweet like goat meat. Lol watch video
intercell: I won’t waste time explaining that MOBILE SETS have come to be a core integral part of our existence as humans, which otherwise become incomplete without them. This consequently makes smartphones importation a long term money magnet investment, with potential for quick returns. I sell phones just beside the Murtala Mohammed International Airport, here in Lagos. I have confirmed tested sources of Chinese merchants who sell to me at very discounted auction prices since it’s very easy for me to clear them at the cargo wing of the airport here. For now, I only buy the few quantities my little capital can afford which I in turn supply to resellers in the computer village which is also very close to me here in Ikeja. This is the reason why I am seeking for an investor that can partner with me to harvest this sure banker business. Interested investors can always contact me for discussion. ADDRESS :- Tourist shop, Besam tollgate, Beside airport police station, MM2 Ikeja airport road, Lagos. CALL :- 09034783680
Fa44me: Call or WhatsApp me, let me direct you a Forex company in Lagos where you will be earning 40% of your capital monthly for 6months and your capital is returned to you at the end of the 6th month or you can reinvest it. 40% of 150k is 60k monthly for 6 months, after which you get your money back or you can reinvest it. Check me on 08134780680. WhatsApp or call. Note, you or any interested person who is not ready should not bother to contact me at all, because to serve Nigeria is not by force. Thank.
Azone: You already know the Okada business. Why not save up and buy another Okada, use the present one for higher purchase and grow from there. This way you have incomes from both end. Probably you can save 300k in the same time you did with the first.
Invest in what you know. Nothing stops you from owning 10 Okadas.
As long as its allowed in your state.
You want him to buy more okada. When many state governors are already banning okada activities ? .
Azone: You already know the Okada business. Why not save up and buy another Okada, use the present one for higher purchase and grow from there. This way you have incomes from both end. Probably you can save 300k in the same time you did with the first.
Invest in what you know. Nothing stops you from owning 10 Okadas.
As long as its allowed in your state.
You want him to buy more okada. When many state governors are already banning okada activities ?
Jabhunter: the meter had issues... They delayed in fixing it... I got fed up and bypassed the light
By pass penalty = 103k I no know where they bring the remaining 93 from
. Next time cool down. Instead of bypassing that will cost you a fine of 103K. You for find one senior nepa man, give him like 15K for him to fix the spoilt prepaid meter. That was what my neighbour did after 4 months of no light.
No party like a Lagos party. We like catching cruise in this our beloved country Sha. See as these masquerades dey enjoy. The gods are really undated on a 5G network. Watch video here https://www.youtube.com/watch?v=fiotNSMIT8I
Cc Lalasticlala Cc MissyB3 Cc Fynestboi Cc Seun Cc Mynd44
How would this young man explain to his people that is bicycle was seized from him by an elephant ? Watch video and see how this young man was attacked by an elephant.
sagieramos: It's very hard to come by. Even local used hardly stay an hour on jiji, except you'll buy my Redmi Note 8 (4/128gb, snapdragon 665), no single scratch even if you check with a magnifier. Reason I want to sell, want to upgrade to Redmi Note 9 pro
How much ? And how much is the screen in that market in case it get broken ?
sagieramos: They never officially launch the phone. Only mi 10 pro you can see for new. Antutu rank that one too above Galaxy s20+ for performance ranking
sagieramos: When we dey enlighten some folks here for free say mi 10 ultra beats Galaxy S20+, they almost pasecuted us for our generous education. Now, this is coming from Forbes. Abi Forbes self don dey lie?
Chris Ngige, the minister of labour and employment, shows off his dancing skills at the reopening of the international airport in Enugu, Nigeria. All these politician like the sweet life abeg. Watch the video below. Don't forget to like, share and subscribe. Thanks