₦airaland Forum

Arsenate:
well well well.
Mr Obiora here thinks he knows more than Ranieri, Leicester city scouts and the Cska coaches.
People this is another case of arrogance in ignorance

Lol. The problem with most Nigerians is that they watch football with their emotions, rather than objectively. Musa has certain qualities that makes him an attractive prospect to some coaches. Over the years, he has constantly had a look in from clubs like Ajax, Tottenham Hotspur, Southampton and West Ham. That tells you they see something in him. He hasn't done too badly with the national team either, even though he could definitely do more. I wish him the best in the EPL.

allanphash7:
Let me goan join the academy straight

At your age you still wan come play U17 abi?

Some Nigerians would rather own 100% of N10,000 than own 5% of N1 million. It is well.

Game ofa! it will take a miracle of sorts and a lot of commitment and determination for us to get to the next World Cup. The NFF, the coaches and the players need to raise the bar.

Hoping against hope though.

He has an impressive CV. Sadly, all that many "future leaders" here can see is his tribe. Tribalists calling others tribalist.

Oga IG, please try and restructure the Force for better service delivery and modern styled policing.

This guy soup don done.

Tpave:
But the policeman I am seeing is inside a vehicle not in Nike's canteen. Abi they no wash the stew abi na soup commot before leaving the area?

You wan wash away exhibit? Na so e go carry am come court. Don't tamper with the evidence jare.

ThatVvnGurl:
Bros is not like that....
the euman ed they were selling cheap is now 6 undred thousand...

so also price of baby alligator as well as albino scorpion it haf also gone up.

Lwkmd! As dollar don cost shey? Aunty, you get shop for Idumota where you dey sell am?

Maybe he is content with what he is doing. Taking him away from it may even end up leaving him depressed and unfulfilled; strange as it may sound. Some folks just want to live a simple life.

onatisi:
Thank you ,but the crux of the matter hasn't been on devaluation per se but in government taken off its hands and allowing the market determine the price,by rigidly sticking to the fixed rate of 197,the nation has lost a lot of economic ground

I do agree that a lot of ground has been lost. I guess this is a new approach for us as a nation having been used to having the fixed and parallel market system for years. The government of change was apparently skeptical about making a change in that area. Well, better late than never. Truth is devaluing your currency is not exactly a sweet pill to swallow.

dabossman:
Long Term Impact of Depreciation or Devaluation of the Currency :

Depreciation of the currency is a slow process and value of the currency automatically gets adjusted by the market forces. Thus, once the currency of a country has depreciated, the investors from other countries will see an opportunity and are likely to shift from other economies. This will help in boosting the economy which may in the long run even push back the value of the currency.

On the other hand in case of devaluation, there is less trust in the economy and once currency is devalued, Government finds it very difficult to revalue the same by government dictate as there will be fear that such revaluation can backfire and put the economy in risk mode.

http://www.allbankingsolutions.com/Banking-Tutor/Depreciation-vs-Devaluation-of-Currency.htm

onatisi:
exactly. This is something everybody had been telling the dullard to do for the past 12 months ,instead he kept saying he doesn't see the reason to devalue and he needs to be convinced of its benefits .it is only in Nigeria that the citizens celebrate the sluggishness and ineptitude of their leaders as a mark of wisdom

I'm no economist, but is this really a devaluation?

dabossman:
There's been a lot of argument on Nairaland in the last 24 hours over the new CBN Forex Policy. Some have argued that it is a devaluation, asking why Buhari stubbornly refused to devalue the naira before, only to do so now. Others say it is in no way a devaluation. I'm not an Economist, so I decided to do some research, after all, we learn every day. I found some interesting articles that might throw a little more light on the matter.

Devaluation and Depreciation Definition

In general, everyday use, devaluation and depreciation are often used interchangeably. In fact for A Level economics it is not absolutely essential to distinguish between the two, but there is a distinct difference and using them correctly is good practice.

Essentially devaluation is changing the value of a currency in a fixed exchange rate. A depreciation is reducing the value in a floating exchange rate.

Definition of Devaluation

A devaluation is when a country makes a conscious decision to lower its exchange rate in a fixed or semi fixed exchange rate. Therefore, technically a devaluation is only possible if a country is a member of some fixed exchange rate policy.

For example in the late 1980s, the UK joined the Exchange Rate Mechanism ERM. Initially the value of the Pound was set between say 3DM and 3.2DM. However, if the government thought that was too high, they could make the decision to devalue and change the target exchange rate to 2.7DM and 2.9DM.

Definition of depreciation

When there is a fall in the value of a currency in a floating exchange rate. This is not due to a government’s decision, but due to supply and demand side factors. (Although if the government sold a lot of their currency they could help cause a depreciation.)

For example, the dollar has depreciated in value against the Euro during the last 12 months. This is due to market forces, there is no fixed exchange rate target for Euro to Dollar.

The problem is that in ever-day use, people talk about a devaluation in the dollar, when, technically speaking, they mean a depreciation in the dollar.

http://www.economicshelp.org/blog/355/trade/devaluation-and-depreciation-definition/

What is the impact of depreciation or devaluation of the currency on economy of the country:

Broadly speaking both have similar impact in the short term. Both of these (i.e. depreciation or devaluation) help the companies which are exporting goods as a drop in the value of the home currency allows the other countries to import goods at a cheaper price from the country whose value has depreciated / devalued. Thus, exports from country whose currency has devalued / depreciated are likely to increase. On the other hand, the citizens will find it costly to buy goods which are imported from other countries as such goods will become costly. Thus, this is likely to benefit the economy to remain competitive in the international market. These events are good for companies that sell the goods produced from domestic raw material, and also to companies that export to other countries.

A drop in home currency exchange rate makes it more expensive for local people to buy goods from other countries, as import of such goods becomes costlier after depreciation / devaluation. Thus, they will either buy more goods manufactured by domestic companies or reduce their consumption of goods from abroad.



Long Term Impact of Depreciation or Devaluation of the Currency :

Depreciation of the currency is a slow process and value of the currency automatically gets adjusted by the market forces. Thus, once the currency of a country has depreciated, the investors from other countries will see an opportunity and are likely to shift from other economies. This will help in boosting the economy which may in the long run even push back the value of the currency.

On the other hand in case of devaluation, there is less trust in the economy and once currency is devalued, Government finds it very difficult to revalue the same by government dictate as there will be fear that such revaluation can backfire and put the economy in risk mode.

http://www.allbankingsolutions.com/Banking-Tutor/Depreciation-vs-Devaluation-of-Currency.htm

Found some more info on the topic.

Depreciation of Currency: Let us start with the meaning of the term depreciation of the currency. Depreciation of currency happens in those currencies which are linked to floating exchange rate and it is likely to change / vary on day to day basis (in actual practice popular currency rates change almost every few minutes / seconds). A floating exchange rate means that the global investment market determines the value of a country's currency. These countries allow supply and demand to determine the value of their currency relative to the currencies of other countries. Depreciation occurs when the forces of supply and demand cause the value of their currency to drop. To check the high volatility, as a prudent measure, almost all central banks of the respective countries try to influence the exchange rates through various means so as to curb such volatility, yet in the end it is the free market that determines the exchange rate of all the currencies linked to floating exchange rate. These days all major economies use a floating exchange rate. Thus, Appreciation / Depreciation (only marginal change) of all such currencies regularly occurs number of time during the period market remains open.. It is only in rare cases, that currency depreciates or appreciates by a wide margin. Such changes happen if something major happens on economic / political front of such country or in the global markets. If a country’s currency has depreciated it will mean that this country's money has less purchasing power in other countries because of the depreciation.


Devaluation of Currency : Devaluation of a currency happens in countries with a fixed exchange rate (or also where it is managed floating rate). In a fixed-rate economy, it is the government that decides what its currency should be worth compared with that of other countries. In this case, usually the government pledges to buy and sell as much of its currency as needed to keep its exchange rate the same. The exchange rate can change only when the government decides to change it. If a government decides to make its currency less valuable, the change is called devaluation.

http://www.allbankingsolutions.com/Banking-Tutor/Depreciation-vs-Devaluation-of-Currency.htm

There's been a lot of argument on Nairaland in the last 24 hours over the new CBN Forex Policy. Some have argued that it is a devaluation, asking why Buhari stubbornly refused to devalue the naira before, only to do so now. Others say it is in no way a devaluation. I'm not an Economist, so I decided to do some research, after all, we learn every day. I found some interesting articles that might throw a little more light on the matter.

Devaluation and Depreciation Definition

In general, everyday use, devaluation and depreciation are often used interchangeably. In fact for A Level economics it is not absolutely essential to distinguish between the two, but there is a distinct difference and using them correctly is good practice.

Essentially devaluation is changing the value of a currency in a fixed exchange rate. A depreciation is reducing the value in a floating exchange rate.

Definition of Devaluation

A devaluation is when a country makes a conscious decision to lower its exchange rate in a fixed or semi fixed exchange rate. Therefore, technically a devaluation is only possible if a country is a member of some fixed exchange rate policy.

For example in the late 1980s, the UK joined the Exchange Rate Mechanism ERM. Initially the value of the Pound was set between say 3DM and 3.2DM. However, if the government thought that was too high, they could make the decision to devalue and change the target exchange rate to 2.7DM and 2.9DM.

Definition of depreciation

When there is a fall in the value of a currency in a floating exchange rate. This is not due to a government’s decision, but due to supply and demand side factors. (Although if the government sold a lot of their currency they could help cause a depreciation.)

For example, the dollar has depreciated in value against the Euro during the last 12 months. This is due to market forces, there is no fixed exchange rate target for Euro to Dollar.

The problem is that in ever-day use, people talk about a devaluation in the dollar, when, technically speaking, they mean a depreciation in the dollar.

http://www.economicshelp.org/blog/355/trade/devaluation-and-depreciation-definition/

What's with the increase in pedophilia recently? It's become alarming. I think it's time to make this crap a capital offence with the death penalty straight.

goodlifehyd:
The way some of you are using this slang makes it look stupid. Any small thing na "who u epp" haba use ur head abegii

Who him head epp?

How foolish can these guys be? So, if their DISCO doesn't make money at the end of the month from consumers, how do they expect to get paid their salaries? Or they think they are still doing ministry work? I laff in Greek.

How foolish can these guys be? So, if their disco doesn't make money at the end of the month from consumers, how do they expect to get paid their salaries? Or they think they are still doing ministry work? I laff in Greek.

GlorifiedTunde:


Laff is seriously catching me.

Forensics Lab Kwa!

No wahala.

But where is the forensics database you will be testing against?

Abi Naija don get my DNA for database?

Forensics is not limited to DNA. Did they capture your biometrics when you registered for BVN, GSM registration, Int'l passport, Voter's Card or Drivers licence? Then, your fingerprints is supposedly on some database. That can go a long way in solving some crimes.

Hopefully, they can maintain this and spread it to all states.

smirn:
It is very simple, if the Mega Station owners claim they are buying at the same price as the independent marketers and will not sell at NNPC directed price, then they should pull out of NNPC mega station and go back to the their former status as independent marketers. Come to think of it, if they claim they are not enjoying anything as NNPC Mega Station Owner, then why not withdraw from it?

Best post yet. It is not by force to be an NNPC Mega station. Simply pull out of the franchise if it doesn't pay you.

Olufhemy:
I was thinking there are better topics, such as A CRITICAL ANALYSIS OF THE NIGERIAN ECONOMY, REASONS WHY YOU SHOULD WRITE A WILL ET AL.
What has this topic so far generated?

For what it's worth, I believe you meant epistemology as against anthropology

Sometimes we tend to forget that Nairaland is a forum for all. It is not the Economist, or Political Watch. It is for everyone with varying interest. From those who want to read about celebrities, to cleavages and snakes, sports, whatever. It is the reader's duty to click on threads that appeals to their interest and ignore those that don't.

Mind you, this topic can be quite educating for those who seek general knowledge. Learning doesn't start and stop with the Nigerian economy.

dexterinc2003:
It is still used in modern society, even in the western world. Wiki is your friend.


National Geographic reports that during the plague of AD 590, "Pope Gregory I ordered unceasing prayer for divine intercession. Part of his command was that anyone sneezing be blessed immediately ("God bless you", since sneezing was often the first sign that someone was falling ill with the plague."[7] By AD 750, it became customary to say "God bless you" as a response to one sneezing.[8]

A typical polite response after being told "bless you" in response to sneezing is to thank the person who has said it.

Finally, someone who makes sense based on a quick research (I presume). I had feared that I would go through 3 pages without any enlightening answer.

rollywise:
The greatest achievement in Lagos will be eradication of traffic. Not this!

With the metropolitan nature of Lagos and its population traffic cannot be entirely eradicated; only reduced. Even New York sef dey get traffic.

However, we do need a more effective mass transit system in Lagos to reduce traffic. Trains, buses, ferries that will be available round the clock. Congestion charges can then be introduced to discourage people from using their car and taking public transport.

Nice development. Hopefully, they will maintain it.

We're the famous Man United and we won the cup at Wembley. Wembley, Wembley, we're the famous Man United and we won at Wembley.

kings09:
Propaganda. They kill 21 today, kill 14 tmoro. Pls is sambisa forest bigger than nig? I won't belive dis lyin govt even wen they r sayin d truth unless I see such fact as physically evident. Wat a govt of fantastic liars

Have you ever travelled round this country before? You obviously don't know the land mass we have in this country.

Megabig:
Them no De finish?why do I think the military lie sometimes?

With all the bombs that the US and its allies have been dropping on Afghanistan, Iraq and recently Syria, have the Taliban, All Qaeda or Isis finished? You don't know that these groups recruit and radicalise vigorously? They are like roaches. May God just help our forces to reduce their capabilities. But there will always be a remnant who go underground and begin to recruit again.

Iheanacho should be careful o. One good season in the first team doesn't mean he should start making funny demands. Maybe a 100-120K pounds might be more like it. And even that would be after tough negotiations.

robosky02:
AfricanFootball.com was specially told by an insider that the least paid City first-teamer is on 180,000 pounds-a-week with the biggest earner at the club Yaya Toure pocketing almost twice that sum.
Iheanacho is expected to bag a new contract by July.

http://africanfootball.com/news/627073/Iheanacho-wants-200000-pounds-a-week-5-year-Manchester-City-contract

Africanfootball.com should be flogged for this fallacy. The official wages of these players can be found with a simple Google search. Which one is "specially told by an insider"


PLAYER AGE WEEKLY WAGE CONTRACT UNTILL
Joe Hart 27 £110,000 4 Years (2019)
Willy Caballero 33 £25,000 2 Years (2017)
Richard Wright 37 £10,000 1 Year (2016)
Vincent Kompany 28 £120,000 4 Years (2019)
Nicolas Otamendi (new) 27 £120,000 5 Years (2020)
Eliaquim Mangala 24 £100,000 4 Years (2019)
Martín Demichelis 34 £65,000 1 Year (2016)
Dedryck Boyata 24 £70,000 1 Year (2016)
Aleksandar Kolarov 29 £85,000 3 Years (2018)
Gaël Clichy 29 £90,000 2 Years (2017)
Pablo Zabaleta 30 £90,000 2 Years (2017)
Bacary Sagna 32 £80,000 2 Years (2017)
Fernando 27 £75,000 4 Years (2019)
Fernandinho 29 £90,000 2 Years (2017)
Yaya Touré 31 £220,000 2 Years (2017)
Fabian Delph (New) 21 £90,000 5 Years (2020)
Rahim Sterling (New) 20 £180,000 5 Years (2020)
Samir Nasri 27 £120,000 4 Years (2019)
David Silva 29 £160,000 4 Years (2019)
Jesús Navas 29 £90,000 2 Years (2017)
Kevin De Bruyne (new) 24 £150,000 6 Years (2021)
Sergio Agüero 26 £220,000 4 Years (2019)
Wilfried Bony 26 £100,000 4 Years (2019)
Patrick Roberts (new) 18 £25,000 5 Years (2020)
Enes Ünal (loanded out) 18 £10,000 2 Years (2017)

The following numbers only include the basic weekly salaries of the players but main players in the team enjoy lucrative performance based bonuses for example Aguero signed a new 5 year deal in 2014 with the basic salary of £165,000 a week but it can reach upto £220,000 a week with performance bonuses included. Joe Harts new City deal earn hime £110,000 a week but it can reach £150,000 a week with various bonuses.

http://www.totalsportek.com/money/manchester-city-player-salaries/

allenuzoma:
keeping ma arms crossed until someone goes to jail...all this propaganda ain't taking us anywhere....

What exactly is propaganda in an ongoing trial? The man will be found either guilty or not guilty, simple. What about that is propaganda? The judiciary is a different arm of government bro.

CookieBrown:
Can you read? Look up spy in the dictionary. If you want to abbreviate a word, you make use of ''.'' or a simple ''.'' at the end to indicate you want to make a word short. The uniform says SPY, not S.P.Y or SPY(e.g police Dept.) .

''Idiots leading idiots''

FIFA, WHO, UNICEF, UNESCO, NAFDAC, NNPC, need I go on? Does your "." rule for abbreviations apply when all of them are written in print? Stop trying to be smart by a half bro.

naptu2:
Hahahahahahahahahahahaahahaha



This thread is hilarious! It looks like a lot of people have never heard of supernumerary policemen before.

Even if they never heard of it before, just reading through comments on the first page would cure their ignorance. But no, they are always in a hurry to come and pour out venomon subjects they don't even understand.

Iefosa:
Spy police is supposed to be undercover, like secret policing, anonymous, and they just live with you as ordinary people, uncode parole. I don't know how these set of people reason sometimes. Saying something doing the opposite. Nobody get sense for that country at all

Can't read or won't read? Get informed before you comment bro.